UK CPI up less than expected as services inflation falls
Figures may help allay concerns over persistent wage pressures
Annual consumer prices index (CPI) inflation in the UK rose to 2.2% in July, a lower figure than analysts had previously expected, as services inflation fell sharply.
Headline inflation rose, largely as a result of the fading effects of lower energy prices. The strongest downward pressure on the index came from falling prices of hotel stays.
Analysts had been expecting inflation to rise to 2.3%, so the lower figure may add to bets on further interest rate cuts by the Bank of England (BoE)
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