UK: Strong inflation data – TDS

Analysts at TD Securities note that UK’s core inflation was on top of consensus at 1.7% y/y while headline CPI was a tenth below, although in line with the BoE's forecast of 1.5% y/y.

Key Quotes

“The downside mainly came from the Ofgem price cap review, not fundamental weakness, so nothing that markets need to take much notice of.”