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🇬🇧 UK's April CPI miss is an Ofgem artefact; the Q3 spike is already on the calendar
The day in view

🇬🇧 UK's April CPI miss is an Ofgem artefact; the Q3 spike is already on the calendar

Macro Soup Newsroom Macro Soup Newsroom 4 min read

April CPI at 2.8% is 50 basis points below forecast, but the Ofgem cap reset fires 1 July at +13%. The Q3 CPI spike is already locked in, and Bank of England cut pricing built on the April miss is exposed.

Table of Nationwide house price index for May-26 and Apr-26 showing monthly index, monthly change, annual change, and average price.
Nationwide's May house price index shows the first monthly decline since March, reversing the prior gain as annual growth slowed sharply to 1.7%. Source

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