• Prior +5.5%
  • Core CPI +5.2% vs +5.0% y/y expected
  • Prior +4.4%

Another month, another beat on inflation figures. The headline reading is the highest for the current series and based on historical models, it is the highest since March 1992. On the month itself, inflation climbed by another 0.8%.

This will just continue to keep the pressure on the BOE to tighten policy in the months ahead - even if to little avail.