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18th Jun 2024 17:56USDaily Monitor

  • Rent rises for new tenants have slowed sharply; the feared catch-up in CPI rent inflation is unlikely.
  • We expect annualized CPI housing inflation to slow to 3-to-4% over the next few quarters.
  • Q2 consumption is on course for a modest 2%, similar to Q1, after May's lacklustre retail sales data.

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