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20th Sep 2023 16:05U.K., Daily Monitor

  • The drop in CPI inflation in August was pleasingly broad-based; even underlying services inflation fell...
  • ...But one month's data do not make a trend; the MPC will be cautious, given continued momentum in wages.
  • We still expect Bank Rate to rise to 5.50% today, but that should be the peak, given the outlook for the core CPI.

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Keywords for: 21 September 2023 UK Monitor

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