Series of UK data better than expected, including inflation - UOB

Analysts at UOB Group reminded of the undertone in sterling comes with better than expected data of late, including inflation.

Key Quotes:

"The UK’s July CPI inflation came in stronger than expected at 0.6%y/y (from the forecast and June’s print of 0.5%y/y), the biggest rise since November 2014.

RPI inflation was also higher at 1.9%y/y in July (from the forecast of 1.7% and June’s print of 1.6%y/y), and PPI was higher as well at 0.3%y/y in July (up from the forecast of 0.0% and reversing the -0.2%y/y drop in June)."