Wednesday preview: UK inflation in focus as eyes turn to next BoE meeting

by | Aug 15, 2023

(Sharecast News) – Wednesday will be a busy day for macroeconomic analysis as investors digest a barrage of data from home and abroad.
First up will be the July figures for UK consumer and producer price inflation, which will be keenly watched following Tuesday’s news that wage growth unexpectedly accelerated to a record high.

“Inevitably this will increase the pressure on the Bank of England to raise rates again at its September meeting by another 25bps, even as headline CPI for July is expected to slow sharply below 7% in numbers released tomorrow,” said chief market analyst Michael Hewson from CMC Markets UK.

Economists widely predict that consumer prices will have fallen 0.5% in July after a 0.1% gain in June. The annual rate of inflation is estimated to have dropped to 6.9% from 7.9%. On a core basis, which strips out more volatile food and energy prices, inflation is expected to have slowed from 6.9% to 6.8%.

The producer price index is estimated to have dropped 2.9% year-on-year after a 2.7% decline in June.

Elsewhere, Wednesday will see the release of EU industrial production figures, expected to show a 0.6% in monthly output in June after rising 0.2% in May.

Across the Pond, US housing starts and US industrial production data for July will be released before the opening bell on Wall Street, along with crude oil inventories not long after.

In company news, just five companies are expected to report their half-yearly reports, including heavyweight financial firms Admiral and Aviva.

Wednesday 16 August


Admiral Group, Aviva, Balfour Beatty, Essentra, Marshalls


Shoe Zone


Coventry 12 1/8% Perm Int Bearing Shs #1000


M Winkworth


Seplat Energy (DI)


Building Permits (US) (13:30)

Capacity Utilisation (US) (14:15)

Crude Oil Inventories (US) (15:30)

Housing Starts (US) (13:30)

Industrial Production (EU) (10:00)

Industrial Production (US) (14:15)

MBA Mortgage Applications (US) (12:00)


Globaltrans Investment GDR (Reg S)


Cadence Minerals, Calnex Solutions , NextEnergy Solar Fund Limited Red, Streaksai


Consumer Price Index (07:00)

Producer Price Index (07:00)

Retail Price Index (07:00)

Related articles

Friday preview: BoJ, UK retail sales in focus

Friday preview: BoJ, UK retail sales in focus

(Sharecast News) - Financial markets' focus at the end of the week would be on the Bank of Japan. Central bankers in Tokyo were expected to keep their main policy levers on hold. However, the wording of their policy statement would be scrutinised for any shift in...

Thursday preview: BoE, US data in the spotlight

Thursday preview: BoE, US data in the spotlight

(Sharecast News) - All eyes on Thursday would be on the Bank of England's possibly last interest rate hike for the current tightening cycle. Consensus was that at 1200 BST Bank would announce a 25 basis point hike in Bank Rate to 5.50% and leave the door open to...

Latest Articles

Full-year profits slide at Close Brothers

Full-year profits slide at Close Brothers

(Sharecast News) - Close Brothers Group reported a decline in its full-year statutory operating profit before tax on Tuesday, to £112m from 2022's £232.8m. The FTSE 250 company said that figure included provisions of £114.6m related to Novitas, which it disclosed in...

Join our mailing list

Subscribe to our mailing list to receive regular updates!

No Fields Found.