UK inflation remains high due to pressure from services, complicating BoE’s position
Bankinter | CPI (July): 3.8% year-on-year versus 3.7% expected and 3.6% previously. Underlying: 3.8% versus 3.7% expected and previously. Bankinter analysis team’s view: Inflation remains high, pressured by services (+ 5.0% versus 4.8% expected and 4.7% previously) and complicates the BoE’s position, which faces a cooling economy and labour market in an environment of high prices. Inflationary pressures have increased in recent months, reaching 3.8% in July versus 2.6% in…