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In the view of analysts at Nomura, the UK consumer prices are seen stagnating in April, despite the recent oil-price rise. The UK CPI report will be released at 0830 GMT.

Key Quotes:

“Clothing and footwear, alcohol and tobacco, and personal care/insurance each took around 0.1pp off CPI inflation in March. We see inflation remaining at 2.5% despite those moves partly reversing and petrol prices rising. A 0.9pp wedge means a small rise in RPI inflation from 3.3% to 3.4%.”