Commenting on this morning’s UK inflation data, Melanie Baker, senior economist at Royal London Asset Management said:
“CPI inflation has finally broken out of the 0.2% to 1.0% year-on-year range that it has been in since the pandemic took hold.
“However, even with core CPI higher, this doesn’t yet reflect rising underlying domestic inflationary pressure.
“The UK economy is still operating below pre-crisis levels and inflation expectations look reasonably well anchored. However, as the economy reopens, it seems likely that we will see some further price increases and inflation is likely to end the year higher. Global supply chain pressures may also become more strongly reflected in the price of core goods.”
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About Royal London Asset Management (RLAM):
Established in 1988, Royal London Asset Management (RLAM) is one of the UK's leading fund management companies, providing investment management solutions to both wholesale and institutional clients such as not-for-profit organisations, local authorities and the insurance sector.
RLAM manages £153 billion of assets and employs 126 investment professionals as at 30 June 2021. It invests in all major asset classes including UK and overseas equities, government bonds, investment grade and high yield corporate bonds, property and cash.
For professional clients only, not suitable for retail investors.
Issued by Royal London Asset Management Limited, registered in England and Wales number 2244297; authorised and regulated by the Financial Conduct Authority. Registered Office: 55 Gracechurch Street, London, EC3V 0RL.
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