Inflation, Raising Hope and Interest Rate
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UK Annual Inflation Rises More Than Expected
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July’s Consumer Price Index report showed an acceleration in “core” prices that strip out volatile food and energy items.
Consumer prices were up 2.7% in July from a year earlier, unchanged from June’s gain
UK inflation climbed for a second month in July, adding pressure on the Bank of England to reconsider its pace of interest-rate cuts.
Japan's core inflation rate in July likely slowed from the previous month but remained above the Bank of Japan's 2% target, a Reuters poll showed, adding to pressure on the central bank to raise interest rates.
The chancellor will have a particular eye on food inflation because people are especially sensitive to grocery price rises. At 4.9%, it’s the highest since February 2024, driven
The Bank of England currently expects inflation to hit 4% in September, the all-important month for pensioners. Wage growth is currently slightly higher than this at 4.6% (including bonuses), although it could shift slightly in next month's report.
The Bureau of Labor Statistics reported the producer price index jumped more than expected in July, spurring renewed concerns about inflation's economic impact.