Davy Research

Market comment

Market comment - Dip in UK CPI inflation temporary

DAVY VIEW

UK CPI inflation at 2.6% in June was below market expectations, hurting the sterling exchange rate yesterday (July 18th). However, the dip in June had been predicted in the Bank of England’s May Inflation Report forecasts. We still think UK CPI inflation will build towards 3% in the remainder of 2017 as sterling’s weakness continues to feed through

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