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 slowed to an annual 2.0% in July from 2.5% in June, slowing at a faster rate than the 2.3% forecast by City analysts. Prices fell in nine of the 12 major categories, the Office for National Statistics said, with the volatile recreation and culture category (which includes computer games and package holidays) shaving 0.23 percentage points from the change in CPI.
Second hand cars continue to lift CPI, rising 7% between June and July, adding 0.14 percentage points to the change in the index.
However, that was countered by computational effects, due to 55 items in the basket becoming available in July last year; half of those items of still being imputed in the index this year, shaving 0.14 percentage points from the change in CPI. Despite the fall in CPI, private analysts are unlikely to change forecasts of CPI hitting 4% later this year.
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.