Services inflation climbed to 5.6% from 5.2% in July, likely persuading some policymakers to take a cautious approach to rate moves
The Bank of England in the City of London. The U.K.’s annual rate of inflation was unchanged in August despite prices of services increasing at a faster rate. Photo: Hannah Mckay/REUTERS
The U.K.’s annual rate of inflation was unchanged in August, despite prices of services increasing at a faster rate, reinforcing expectations that the Bank of England will leave its key interest rate unchanged Thursday.
Consumer prices were 2.2% higher in August than the same month last year, a level of inflation that matched July’s rate, the Office for National Statistics said Wednesday. Economists polled by The Wall Street Journal also expected inflation to remain at 2.2%.
