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UK CPI expected to continue dropping in August - RBS

FXStreet (Łódź) - Ross Walker, Senior UK Economist at RBS expects UK inflation to slow down further to 1.5% in August due to a decline in petrol and food prices.

Key quotes

"Core CPI is forecast to remain at 1.8% in August - the bulk of the summer sales have passed & a normalisation in airfares is expected."

"RPI inflation is forecast to fall to 2.4% in August from 2.5% in July."

"RBS medium-term forecast: CPI returns to target more slowly/from a lower base than on last month's forecast: reaching 2% target in Q4 2015."

"CPI inflation levels out in 2016, close to target."

"RBS provisional 2016 GDP forecast is close to trend, so only a marginal reduction in the output gap."

"2016 CPI profile: modest offset to rising core trend from FBTE inflation."

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