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15th Jul 2022 15:55U.K., Daily Monitor, Weekly Monitor

We think that CPI inflation leapt to 9.4% in June, from 9.1% in May, exceeding the MPC’s 9.1% forecast. 

But the upside surprise will be due to a massive rise in motor fuel prices, and another increase in food inflation. 

Core inflation likely fell to 5.8%, from 5.9% in May; June 2021’s surge in goods prices likely wasn’t repeated. 

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car prices commodity prices consumer prices core cpi core goods cpi cpi inflation energy energy inflation food prices fuel headline rate house prices import price June May monetary policy mortgage motor fuel motor fuel prices mpc ONS output price inflation pmi policy rents rics rpi rpi inflation services pmi

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Keywords for: Food and Energy Inflation Likely Drove Up the Headline Rate in June

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