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UK Inflation Seen Marking Time Ahead BOE....>

UK DATA
MNI (London)
UK DATA: UK Inflation Seen Marking Time Ahead BOE Meeting: Jan 15 0930GMT
-- Dec CPI expected 0.2% m/m, 1.5% y/y  (Nov 0.2% m/m, 1.5% y/y) 
-- Dec core CPI expected 0.3% m/m, 1.7% y/y (Nov 0.2%, 1.7%)
-- Dec RPI expected 0.4% m/m, 2.3% y/y (Nov 0.2%, 2.2%)
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UK headline inflation is seen steady 1.5% in December, having already spent a
couple of months at that level, although there is a chance up a small upside
surprise reading of 1.6%, according to analysts. However, the number is still
stubbornly below the Bank of England's 2% target and underlines just one of the
issues ahead for incoming Governor Andrew Bailey. Core inflation is likely to
come in unchanged at 1.7%, offering a degree of comfort for the Bank's MPC. The
BOE's December policy announcement underlined that they see headline inflation
at 1.25% 'by the spring', citing temporary falls due to regulated and energy
prices. The UK's services PMI reported only a small increase in input prices in
December, while the BRC-Nielsen shop price index recorded another decline in
December.
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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