UK inflation steady at 2.2%, leaving door open for more rate cuts
The Straits Times|September 19, 2024
UK inflation held at just above the Bank of England (BOE)'s 2 per cent target in August, leaving the door open to further interest rate cuts later in 2024.

Consumer prices rose 2.2 per cent from a year earlier, the same pace as in July and undershooting the BOE's forecast, the Office for National Statistics said on Sept 8.

The reading was in line with the median expectation of economists surveyed by Bloomberg. Downward pressures from motor fuels were offset by an upward push from airfares.

This story is from the September 19, 2024 edition of The Straits Times.

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This story is from the September 19, 2024 edition of The Straits Times.

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