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The United Kingdom’s Office for National Statistics will publish the March CPI data on Wednesday. The annual UK headline inflation is set to cool in March, while core CPI is seen to remain unchanged. The UK CPI data could inject volatility around the Pound Sterling amid a cautious BoE. The United Kingdom’s (UK) Consumer Price Index (CPI) data for March will be published by the Office for National Statistics (ONS) on Wednesday at 06:00 GMT. The UK CPI inflation report could significantly impact the market’s expectations for the Bank of England’s (BoE) future interest rate cuts, which could trigger a big reaction in the Pound Sterling (GBP). What to expect from the next UK inflation report? The UK Consumer Price Index is forecast to rise 2.7% year-over-year (YoY) in March, following a 2.8% increase in February. The reading is expected to remain distant from the BoE’s 2.0% target. Core CPI inflation, which excludes energy, food, alcohol, and tobacco prices, is expected to rise by 3.5% YoY in March, unchanged from February. According to a Bloomberg survey of economists, official data is expected to show that service inflation has ticked lower to 4.8% in March after remaining at 5% in February. Meanwhile, the British monthly CPI is expected to rise by 0.4% in the same period, matching the increase recorded in February. Previewing the UK inflation data, TD Securities analysts noted: “We expect inflation to continue dropping in March, with headline coming in at 2.6% (mkt: 2.7%; prior: 2.8%). Services are the main driver at 4.7% YoY (prior: 5.0% YoY, mkt: 4.8%), which would also feed into a decline in core to 3.3% YoY (prior: 3.5% YoY). Though these numbers remain above the BoE’s comfort, the downward trajectory will be welcomed ahead of their May meeting.” How will the UK Consumer…

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Filed under: News - @ April 16, 2025 2:25 am