- Year-ahead CPI seen at 2.9% (unchanged from April)
- Year-ahead output price inflation seen at 3.9% (vs 4.0% in April)
- Year-ahead output wage growth seen at 4.5% (vs 4.8% in April)
Wage price expectations are seen easing slightly, so that is one positive for the BOE. Otherwise, with consumer prices still expected to keep above the 2% mark, it’s hard to be too optimistic.
This article was written by Justin Low at www.forexlive.com. Source