"Headline CPI inflation held steady in August at 3.8%, despite underlying price momentum moving in the wrong direction. Food price inflation accelerated again, rising from 4.9% to 5.1% in August. Services inflation for the month was dragged down by typically volatile air fares. price pressures will keep the Bank of England from cutting interest rates later this week, despite a weakening labour market."
"Food price inflation accelerated again, rising from 4.9% to 5.1% in August. Services inflation for the month was dragged down by typically volatile air fares. price pressures will keep the Bank of England from cutting interest rates later this week, despite a weakening labour market. We still expect the BOE to deliver a final cut before the end of the year to support weak activity."
Headline CPI inflation held steady at 3.8% in August while underlying price momentum moved in the wrong direction. Food price inflation accelerated from 4.9% to 5.1% in August. Services inflation for the month was reduced by typically volatile air fares. Ongoing price pressures are expected to prevent the Bank of England from cutting interest rates later this week despite a weakening labour market. A final Bank of England rate cut is still expected before the end of the year to support weak economic activity.
Read at London Business News | Londonlovesbusiness.com
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