UK: Core CPI to hold steady at 1.7% y/y in July – TDS

The TD Securities Analysts believe the UK July Core Consumer Price Index (CPI) is expected to remain unchanged from the June month reading.

Key Quotes:

“We look for core CPI to hold steady at 1.7% y/y in July (mkt 1.8%), with the recent depreciation of the pound unlikely to have any material impact quite yet.

For headline CPI, we look for a 1.9% y/y (mkt 1.9%), which is a touch above the BoE’s forecast from the August IR for a 1.8% print.”