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This chart amplifies the point I was making in this morning's Early Look with respect to the dynamics by which British inflation can accelerate as their currency gets pounded (pardon the pun). As the US Dollar wins, the British Pound loses.

The UK's CPI was reported at a new sequential high of +4.7% y/y and was the highest number I see in the data set, going back to 1997. The chart tells a thousand words, and it will pressure the BOE not to cut rates, yet.
KM