According to the Office for National Statistics:
- The UK annual inflation rate remained steady at 2.2% in August.
- The Consumer Prices Index, including owner-occupier housing costs (CPIH), rose by 3.1% in the 12 months to August, unchanged from July.
- The Core CPIH (excluding energy, food, alcohol, and tobacco) was up 4.3% in the 12 months to August 2024, up from 4.1% in July.
- The CPIH services annual rate increased from 5.7% in July to 5.9% in August.
- The largest contribution came from airfares, countering downward contributions from motor fuels, restaurants, and hotels.
Bank of England Interest Rate Path
Ahead of the inflation numbers, the consensus was for the Bank of England to hold…
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