August 12, 2024 14:56 GMT
MNI UK Inflation and Labour Preview - August 2024 Release
UK DATA
- It’s another big UK data week with labour market data Tuesday, inflation Wednesday, activity data (including Q2 GDP) on Thursday and retail sales Friday.
- Note we will get another reading of all of these data ahead of the September MPC meeting.
- We look at two different ways of analysing private sector regular wages and think a downside surprise to the BOE's forecast looks hard to acheive without meaningful revisions.
- Headline inflation is expected to pick up - driven by utilities prices - while services and FAT are expected to continue to disinflate. Within services there is focus on accommodation prices, rents and air fares.
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