London | UK inflation held at just above the Bank of England’s 2 per cent target in August, cementing expectations that policymakers will cut interest rates again later this year.
Consumer prices rose 2.2 per cent from a year earlier, the same pace as in July and below the BoE’s forecast, the Office for National Statistics said on Wednesday. The reading was in line with the median expectation of economists surveyed by Bloomberg. Downward pressures from motor fuels, restaurants and hotels were offset by an upward push from airfares.
