UK data coming up today - inflation - preview

Author: Eamonn Sheridan | Category: News

A heads up for GBP traders, August inflation data is due from the UK today

  • Tuesday 12 September 2017 at 0830GMT

For the CPI, expected is 0.5% m/m and 2.8% y/y
  • July was -0.1% and 2.6% respectively
For the core rate, expected is 2.5% y/y
  • prior 2.4%
Preview via RBC, the bank forecast CPI inflation 2.8% y/y.
RBC cites: 
  • This reflects the on-going impact of exchange rate depreciation associated with the EU referendum feeding through to higher import prices.
For the path ahead:
  • We continue to see the peak for CPI inflation at 3.1% y/y in October this year before falling back gradually in 2018.
There is also Retail Price Index Inflation data
  • expected 0.5% m/m & 3.7% y/y
  • (priors 0.2% & 3.6%)
  • expected 2.7% y/y, prior 2.6%
Says RBC on this measure:
  • Forecast 2.7% y/y
RBC cite:
  • This more domestically focused index is less exposed to exchange rate pass-through effects

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