The United Kingdom will release the Consumer Price Index (CPI) report on Wednesday, February 14 at 07:00 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of six major banks regarding the upcoming UK inflation print.

Headline inflation for January is expected at 4.1% year-on-year vs. 4.0% in December while core is expected at 5.2% YoY vs. the prior release of 5.1%. The Bank of England (BoE) expects headline CPI to print at 4.1% YoY in January.  Services CPI inflation is the BoE’s key indicator of domestic inflationary pressure. The BoE projects services CPI inflation to pick up two ticks to 6.6% YoY in January vs. consensus of 6.8%