Monday, July 16, 2012

UK CPI rate outlook june 2012

World Economic outlook - UK CPI rate outlook june 2012 : The consumer price index, to be released Tuesday July 17 at 8:30 GMT, has been lowering its year to year rate every month from the September figure released October 28th at 5.2% to the May number of 2.8% YoY published June 19. Despite that, market expectation for June is the CPI to remain at the current 2.8% but RBS thinks different.

"Price pressures are expected to have been muted across the board in June," comments the RBS European Economics team. "in no small part due to the sharp fall in commodity prices."

"In the UK we expect the recent descent in headline CPI to continue," RBS continues. "With downside pressure from food and energy pushing the year on year CPI rate down to 2.7%."

"Overall," concluded RBS, "we forecast CPI inflation to fall to 2.7% in June (further food & energy downside pressures), with the core CPI rate steady at 2.2%. RPI/X inflation is forecast to remain unchanged at 3.1%."

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