UK CPI held steady at 2%, but the ongoing 'stickiness' of services inflation could give cause for concern at the Bank of England.
![Chances of August rate cut reduce as inflation measures remain sticky stop pause time block](https://www.financialreporter.co.uk/images/243x170/stop_pause_time_block-7689.jpg)
17th July 2024
UK CPI held steady at 2%, but the ongoing 'stickiness' of services inflation could give cause for concern at the Bank of England.
Inflation has returned to target for the first time in almost three years.
Core CPI remains elevated at 3.9%.
Pill said the MPC "needs to maintain restrictiveness in its monetary policy stance".
Inflation is down to its lowest in two and a half years, and well below the peak of 11.1% in October last year.
Economists had predicted a small rise.
Economists had predicted a small drop in the annual rate.
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