CPI data due at 0830 GMT with the m/m change expected to be a little lower than in May
- But y/y higher
Some snippets from bank previews:
Barclays looks for headline y/y from 2.3% to 2.4%
- but we see core 0.1pp lower to 1.9%y/y
- main driver ... fuel, lubricants and household administered tariffs as the Big Six price hikes should largely feed through in June
- see all other components broadly unchanged from the previous month
RBC
- the rise in petrol prices in June should still be sufficient to ensure that the transport category continued to make a strong positive contribution
- pre-announced utility price increases kicked in last month
- Combined, we see those effects pushing CPI inflation up to 2.7% y/y this month, even as the effects of previous GBP devaluation continue to fade
