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18th Jun 2024 17:54UKDaily Monitor

  • CPI inflation returned to the 2.0% target in May, for the first time since July 2021…
  • …But CPI services inflation overshot the MPC’s forecast by 0.4pp, more than the 0.3pp miss in April.
  • So, we push back our call for the first MPC rate cut to September, from August previously.

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Keywords for: 20 June 2024 UK Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence