ROSS WALKER, RBS FINANCIAL MARKETS
"Another pretty grim set of data. The input numbers weren't quite as bad as we'd thought - we were some way above the consensus - but still above the median expectations. The news is on the output side, we've got a pretty hefty surge there in the month, so you've got evidence both of a pass through from those higher input costs, clearer evidence of that, and maybe some of this is spilling over from that food and energy shock into the core rate."
ALAN CLARKE, BNP PARIBAS
"Upward surprises across the board. It poses upside risks to consumer price inflation at the more medium-term horizon. I don't think it tells us much about next week's CPI, but what it does tell us is that elevated inflation is increasingly likely to become engrained in the system further down the road. So it reinforces the case for higher rates."
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