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.
The UK's annual inflation rate was unchanged in January, the Office for National Statistics said Wednesday, beating expectations for a modest uptick in both headline and core numbers. (see MNI INTERVIEW: Bright Spots In UK Growth Outlook-ONS's Fitzner)
CPI rose by 4.0% y/y in January 2024, the same rate as in December, while Core CPI rose by 5.1%.
The largest upward contribution CPI annual rates came from housing and household services (gas and electricity charges), while the largest downward contribution came from furniture and household goods, and food and non-alcoholic beverages. Food prices actually fell for the first time since Sep 2021. The CPI goods annual rate slowed from 1.9% to 1.8%, while the CPI services annual rate, closely watched by the Bank of England, increased from 6.4% to 6.5% -- below the MPC's February MPR expected 6.6%. (see MNI BOE WATCH: BOE Holds, Hiking Bias Removed From Statement)
MPC member Swati Dhingra will likely discuss latest inflation data at an MNI Connect event on Feb 21. (See MNI INVITE: Livestreamed MNI Connect VC with BoE Dhingra On Feb 21)
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.