UK Weekly: It’s no longer all about services CPI inflation

We’ve become more convinced that the new US tariff regime will reduce inflation in the UK, not least because there are some early signs that goods originally destined for the US are being “dumped” in the UK. If core goods CPI inflation is lower as a result, then the Bank of England doesn’t need services CPI inflation to fall as far for it to hit its 2% inflation target.

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