UK Preview: brisk employment and Jun-18 inflation
- Tuesday’s labour market report looks likely to beat market expectations once again. I expect strong employment growth to round the UR down to 4.1% in May.- CPI inflation’s run of disappointments should end on Wednesday when I expect an upside surprise at 2.7% y-o-y. Weighting differences in the RPI constrain the inflationary effects to leave my forecast at 3.5% (281.9), in line with the consensus.
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