MNI BRIEF: Macropru Policy To Evolve As AI Grows - Lagarde

MNI CNB WATCH: More Easing, But Tight Policy Still Needed

MNI China Daily Summary: Thursday, September 26

MNI BRIEF: China GDP Growth Likely 4.8% In Q3 - BOC

US EIA:NAT GAS STORAGE +47 BCF TO 3,492 BCF SEP 20 WK

MNI: US NAR AUG PENDING HOME SALES INDEX 70.6 V 70.2 IN JUL

MNI: US JOBLESS CLAIMS -4K TO 218K IN SEP 21 WK

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI UK Inflation Insight: August 2024

We look more into the implications for the MPC, market pricing and the details of the print.
GlobalHomepageInflation InsightCEEMEAUKMarketsStoryRegion
MNI (LONDON)
  • There were a lot of moving parts in the August inflation report, but overall they largely cancelled themselves out in headline CPI which came in at 2.22%Y/Y vs 2.23%Y/Y in July.
  • Air fares, second hand cars, cultural services and furniture prices were the largest upside contributors (all of which are included in core) while fuel, alcoholic beverages and catering services were the largest downside contributors (only the latter in core). We look at the details in greater depth below.
  • Overall, the August print is still a bit softer than the BOE’s forecast, particularly for services prices. However, we don’t think it is weak enough for any MPC member to immediately change their underlying view.
  • We look more into the implications for the MPC, market pricing and the details of the print in greater detail in the full document.

See the full PDF here: MNI_UK_Inflation_Insight_-_2024_09_Release.pdf

141 words

To read the full story

Close

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.
MNI (LONDON)
  • There were a lot of moving parts in the August inflation report, but overall they largely cancelled themselves out in headline CPI which came in at 2.22%Y/Y vs 2.23%Y/Y in July.
  • Air fares, second hand cars, cultural services and furniture prices were the largest upside contributors (all of which are included in core) while fuel, alcoholic beverages and catering services were the largest downside contributors (only the latter in core). We look at the details in greater depth below.
  • Overall, the August print is still a bit softer than the BOE’s forecast, particularly for services prices. However, we don’t think it is weak enough for any MPC member to immediately change their underlying view.
  • We look more into the implications for the MPC, market pricing and the details of the print in greater detail in the full document.

See the full PDF here: MNI_UK_Inflation_Insight_-_2024_09_Release.pdf