In the July inflation data, headline and core CPI inflation were in line with the projections made in Fathom’s last UK Update note. The outturn for headline CPI, at 2.2%, matched our projection exactly, while core CPI inflation registered 0.1% lower than our projection, at 3.3%. Meanwhile RPI surprised on the upside, driven by higher-than-expected rates offered on new fixed-rate mortgages…