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Analysts at Nomura offer a sneak peek at what to expect from the UK CPI release due today at 0830 GMT.

Key Quotes:

“Looking for headline a little higher citing  rising oil prices and household energy bills together are likely to add between 0.1pp and 0.2pp to the annual rate of CPI inflation.

Forecast CPI inflation 2.5%.

See June’s rise  as a temporary blip before a fall back to 2% towards year-end.”