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.
UK CPI continued to rise in January, stretching to an annual rate of 5.5%, from 5.4% in the final month of 2021, matching analysts’ expectations. That’s the highest reading since March1992. Core inflation rose more steeply, hitting a record high of 4.4% from 4.2% in December.
The increase in broader inflation came despite a downward contribution from fuel prices, which subtracted 0.07 percentage points from the change in CPI. With petrol prices resuming their upward trajectory in February, inflation could accelerate in months to come. Many analysts’ believe CPI will peak above the Bank of England’s forecast of 7.25%. Clothing and footwear accounted for 0.19 percentage points of the rise in PPI, with prices falling by just 2.9% last month, the smallest decline since 1990. Clothing slumped by 4.9% in the same period a year earlier.
RPI accelerated more quickly, rising to an annual rate of 7.8% from 7.5% in December, while RPIX rose to 8.0% from 7.7% previously. Both readings are the highest since March 1991.
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.