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15th Feb 2023 16:27U.K., Daily Monitor

  • January’s fall in core CPI inflation reflected a near-term deceleration, not a base effect, and was broad-based.
  • The MPC’s preferred measure of core services inflation fell sharply too, undershooting the MPC’s forecast.
  • One month does not make a trend, but many leading indicators point to a further fall in core inflation ahead.

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