Anadolu | Getty ImagesLONDON — U.K. inflation held steady during the month of August, data from the Office for National Statistics showed Wednesday, and matched analyst expectations.
Headline CPI had come in at 2% in May and June, in line with the Bank of England's target rate.
Services inflation — which is closely watched by the BOE, given its dominance within the U.K. economy and its reflection of domestically-generated price rises — rose to 5.6% in August from 5.2% in July.
Core inflation, excluding energy, food, alcohol and tobacco, came in at 3.6%, up from the 3.3% recorded in July.
"Despite recent data showing a stagnation in UK economic output and easing wage growth, core inflation remains sticky, with services inflation rising from 5.2% to 5.6% which will weigh heavily on the BOE's decision-making," Carter said in a note.
Persons:
BOE, Richard Carter, Cheviot, Carter
Organizations:
Anadolu, Getty, Office, National Statistics, Headline CPI, Bank of, U.S . Federal Reserve