Headline CPI in the UK hit the Bank of England’s (BoE) target of 2%, so why isn’t a rate cut imminent? The answer lies in the details
Headline CPI drops to the Bank of England’s target of 2% for the first time in nearly 3 years. This is an impressive feat given how high inflationary pressures rose at their peak. The decline has been led by falling goods inflation and markedly lower energy prices.Committee falling over themselves to lower the bank rate? The answer lies mostly within a subset of the broader inflation print – services inflation – which remains uncomfortably high.
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