July 2016 UK CPI data report 16 August 2016
– Core 1.3% vs 1.3% exp. Prior 1.4%
– RPI 0.1% vs -0.1% exp m/m. Prior 0.4%
– 1.9% v s1.7% exp y/y. Prior 1.6%
– Ex-mortgage interest payments 1.9% vs 1.7% exp y/y. Prior 1.7%
The ONS say there were no obvious Brexit effects. Transport costs was the main driver of higher CPI. The BOE has touted that inflation may rise over the short-term after Brexit.