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Pill At MNI Event: Inflation Path May Be Bumpier Than We Expect

BOE

Some highlight's from Pill's slides at the MNI Event now underway:

  • "CPI inflation rose to 10.4% in February, from 10.1% in January. This was a material upside surprise to our February MPR projection. Core inflation rose to 6.2 and services inflation at 6.6% was largely isolated to catering services. "
  • "We still expect CPI inflation to fall in Q2, as large rises in energy prices from last year drop out of the annual comparison, and to a lower rate than in the MPR projection following the announcements in the latest Government Budget to freeze the EPG and fuel duties."
  • "Recent releases serve as a reminder that the precise path of inflation may be bumpier than we expect."
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