Market resolves to YES if the UK CPI 12-month rate reported in any Office for National Statistics Consumer Price Inflation bulletin published in 2026 is strictly greater than 3.5%. The Bank of England and HM Treasury independent forecasters expect inflation to rise above 3.5% later in 2026 as higher energy prices and the JulyβSeptember Ofgem cap feed through. A reading of exactly 3.5% resolves NO. Resolution uses the headline CPI rate at 7am publication. Source: ONS Consumer Price Inflation bulletins (ons.gov.uk/economy/inflationandpriceindices).