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18 July 2018

Flat inflation figures leave August interest rate rise in doubt

Following the release of today’s UK inflation figures from the Office for National Statistics, Joel Dungate, Investment Analyst at investment management and stockbroking firm Redmayne Bentley, said:
“Most economists had expected a rise in inflation, so it came as a bit of a surprise to learn that consumer prices held steady at 2.4% in June. This was a welcome development, particularly since figures released yesterday had shown a small fall in wage growth in the three months to May.

“Consequently, the figure doesn’t change that much. Three members of the monetary policy committee voted for a rate rise in June, so it will be interesting to see if the other policymakers follow them when they meet again next month. A rise in inflation would have increased this likelihood, but the steady figure along with slowing wage growth means that we could once again see rates left unchanged.”

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Flat inflation figures leave August interest rate rise in doubt
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