Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Inflation continued to outpace expectations in July, with the consumer price index (CPI) rising 10.1% year-on-year to a fresh 40-year high, up from 9.4% in June, the Office for National Statistics reported Wednesday. The rate exceeded analysts consensus forecasts of an increase of 9.8% y/y and was above the Bank of England's outlook for July.
According to Grant Fitzner, the ONS's chief economist, a wide range of price rises drove inflation up again this month. "Food prices rose notably, particularly bakery products, dairy, meat and vegetables, which was also reflected in higher takeaway prices," he said.
The retail price index (RPI), the measure used for rises in many benefits and services, rose 12.3% year-on-year, the highest annual increase since March 1981.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.