UK inflation increased to 2.2% in July, exceeding the Bank of England's 2% target.

UK inflation rose to 2.2% in July, surpassing the Bank of England's 2% target for the first time since 2021. This comes after months of steady declines and follows a recent quarter-point interest rate cut by the Bank to 5%. The central bank aims to maintain a stable 2% inflation rate to support a healthy economy.

August 14, 2024
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