UK: Upward march of CPI inflation is set to continue – RBC CM

Elsa Lignos, Senior Currency Strategist at RBC Capital Markets, suggests that the upward march of UK CPI inflation is set to continue with October data today.

Key Quotes

“We look for a rise from 1%y/y to 1.1% y/y as energy base effects continue to fall away, coupled with early signs of exchange rate pass-through. Theresa May gave her first Mansion House speech, in line with phrases that were released earlier on Monday. She claimed that the UK will be “unequivocally and unashamedly pro-business” although “to be the true global champion of free trade in this new modern world, we also need to do something to help those families and communities who can actually lose out from it.”