5 June 2023 UK Monitor Forecast Review: Sticky CPI Inflation Means Bank Rate Likely will Rise to 5%
2nd Jun 2023 15:05U.K., Weekly Monitor
- Enter some text here...CPI inflation overshot the MPC's forecast greatly in April; we now expect Bank Rate to peak at 5.00%, not 4.50%.
- Producer price and wholesale energy price data, however, still point to a major drop in CPI inflation by year-end.
- We still expect GDP merely to hold steady in Q2, despite the stronger steer provided by the PMI data.
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