UK Inflation Steady at 2%, Rate Cut Uncertain
TL;DR Summary
UK inflation held steady at the Bank of England's 2% target in June, surpassing analyst expectations of 1.9%. Services inflation remained high at 5.7%, while core inflation was stable at 3.5%. Higher restaurant and hotel prices contributed to the inflation, while clothing and footwear costs declined. The Bank of England's potential interest rate cut in August is uncertain due to persistent services inflation and wage growth pressures.
- UK inflation holds steady at Bank of England's 2% target, above expectations CNBC
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- Will CPI inflation confirm or deny a BoE’s rate cut in August? FXStreet
- U.K. Inflation Steady as Interest Rate Cuts Hang in the Balance The New York Times
- UK inflation holds at 2% but underlying price pressures stay strong Reuters UK
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