{"id":556750,"date":"2026-07-24T03:24:58","date_gmt":"2026-07-24T03:24:58","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/556750\/"},"modified":"2026-07-24T03:24:58","modified_gmt":"2026-07-24T03:24:58","slug":"united-kingdom-core-cpi-resilience-complicates-boe-path-nomura","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/556750\/","title":{"rendered":"United Kingdom: Core CPI resilience complicates BoE path \u2013 Nomura"},"content":{"rendered":"<p>Nomura strategists analyse the latest United Kingdom (UK) June inflation data, noting headline Consumer Price Index (CPI) fell to 2.6% as the Bank of England expected, but core and services inflation stayed sticky. They attribute this to falling food prices offset by strength in information processing equipment and hotel\/catering, and highlights a sharp rise in upstream services prices, especially transport and storage.<\/p>\n<p>Headline falls but core stays sticky<\/p>\n<p>&#8220;While UK headline inflation fell by 0.2pp between May and June, as the <a href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/boe\" data-fxs-autoanchor=\"\" rel=\"nofollow noopener\" target=\"_blank\">BoE<\/a> had expected, core and services inflation proved more resilient than the consensus view.&#8221;<\/p>\n<p>&#8220;This morning&#8217;s UK June inflation numbers were all above our forecasts, but the headline rate fell 0.2pp to 2.6% \u2013 which was below consensus.&#8221;<\/p>\n<p>&#8220;Services inflation only fell a tenth, to 3.6%, versus consensus forecasts of a 0.2pp drop and our view of a 0.3pp fall.&#8221;<\/p>\n<p>&#8220;Core inflation turned out to be unchanged at 2.6% in June.&#8221;<\/p>\n<p>&#8220;In short, this is not as good a set of figures as we had expected but there are really only two major components that were responsible for the upside miss in core inflation, rather than a broad array of the CPI basket.&#8221;<\/p>\n<p>(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. <a href=\"https:\/\/www.fxstreet.com\/info\/how-fxstreet-uses-ai?utm_medium=internal&amp;utm_source=ai-disclaimer\" rel=\"nofollow noopener\" target=\"_blank\">Know more.<\/a>)<\/p>\n","protected":false},"excerpt":{"rendered":"Nomura strategists analyse the latest United Kingdom (UK) June inflation data, noting headline Consumer Price Index (CPI) fell&hellip;\n","protected":false},"author":2,"featured_media":224879,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":["post-556750","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/556750","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=556750"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/556750\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/224879"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=556750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=556750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=556750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}