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18 Jun 2013
Flash: UK data – TD Securities
FXstreet.com (London) - Strategist Jacqui Douglas for TD Securities said that the UK CPI rebounded in May, rising from 2.4% to 2.7% Y/Y, which was a little stronger than consensus of 2.6% but in line with their forecast.
He said, this reflected a return of prices to normal levels after the timing of Easter pushed travel costs lower across most of Europe. Looking at the next few months, he expects to see CPI pop briefly above 3% again in June (just on time for Carney’s first month as Governor of the BoE), before returning to the high-2s for the next several months.
He said, this reflected a return of prices to normal levels after the timing of Easter pushed travel costs lower across most of Europe. Looking at the next few months, he expects to see CPI pop briefly above 3% again in June (just on time for Carney’s first month as Governor of the BoE), before returning to the high-2s for the next several months.