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Henry Occleston Profile picture
Henry Occleston
@HenryOccleston
Macro Hive Strategist, focusing on European markets. Formerly worked in European credit and rates strategy, and macro strategy.
Jun 21, 2023 • 8 tweets • 4 min read
🇬🇧 UK May Inflation Soars

Headline (+8.7% YoY) and core (+7.1% YoY) beat consensus expectations by +0.3ppt.

As a result, the May MPR forecasts are looking very stale.

Let's dig in!

One (of a couple) 🧵s I'll be putting on BoE/monetary policy...

#CPI #inflation #BoE Image The +0.7% MoM core reading, while not so extreme as the Apr level, presented a continued strong beat of typical monthly values.

Since Feb, core inflation has shown only very small signs of returning towards the 2% target. The BoE will need to be done to counter it. Image