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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 DATA
MNI (London)
UK SEP CPI +0.5% M/M (FCST +0.4%), AUG +0.5% M/M
UK SEP CPI +10.1% Y/Y (FCST +10.0%); AUG +9.9% Y/Y
UK SEP CORE CPI +6.5% Y/Y (FCST +6.4% Y/Y); AUG +6.3% Y/Y
- UK September CPI ticked up 0.2pp to +10.1% y/y, returning to the record-high of July (the highest since Feb 1982 in the synthetic model).
- Prices accelerated by +0.5% m/m, the same pace as August and core inflation quickened by 0.2pp to +6.5% y/y (the highest since March 1992). Restaurants/hotels, furniture and household services and miscellaneous goods pushed core up.
- Electricity and transport (driven by higher global energy prices) alongside food remain the key upwards drivers in September.
- This data was all 0.1pp faster than the consensus forecast and largely in line with Bank of England expectations, which saw inflation peaking at "just under 11% in October" in the September meeting.
- Markets are currently pricing a 97bp hike for the November meeting and a further 75bp for December, having seen volatile action following the introduction and then reversal of the government's 'Growth Plan'. This pricing tends to be more hawkish than economists' expectations, which are largely looking for 75bp at the next meeting.
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.
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