14 August 2024
In the latest data from the Office for National Statistics (ONS) it is shown that CPI inflation in the year to July 2024 sits at 2.2%.
Monthly CPI in the month to July 2024 fell by 0.2%, but as the monthly inflation to July 2023 was a fall of 0.4% a net rise of 0.2% brings a rise in yearly inflation from lats month’s 2%.
We will see the next release of ONS data on 18 September 2024, followed by the Bank of England’s bank rate announcement on 19 September 2024. With inflation staying close to the 2% target aimed by the Bank of England, will we see further bank rate reductions in the next announcement?
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