UK inflation: stable before the Apr-19 surge
- UK inflation data were disappointingly stable, with the CPI at 1.9% and the RPI rate rounding down to 2.44% (index at 288.1).- Airfares and household energy prices are still set to spike inflation up in April by a potentially surprising degree.
- The BoE’s February forecasts were not disappointed by the latest outcome and should be revised up in May. My modal forecast remains for an Aug-19 rate hike.
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