BOE’s Dhingra: UK no longer looks like an outlier for inflation among advanced economies

• Recent CPI outturns show no asymmetry in inflation unwinding
• Fall in services PPI appears to be slowing but probably due to erratic components
• Risks to outlook is uncertain and difficult to gauge
• The lack of reliable data is hindering monitoring process

Do keep in mind that she’s arguably the most dovish member among the policy committee when reading into the comments above. Before the rate cut earlier this month, Dhingra was the only one who voted for a rate cut in the September meeting. So, her dismissing any “stickiness” in price data is not surprising. On the final point, it’s another jab at the ONS and mirroring Lombardelli earlier here.

This article was written by Justin Low at www.forexlive.com.