Weekly Economic and Construction Update – 16 August 2024
Date Published
16 August 2024
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TDUK
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Summary
ONS UK CPI Inflation (July 2024):
UK CPI inflation in July 2024 rose slightly to 2.2% from May and June’s 2.0%, the Bank of England’s target rate. This was a marginally lower rise than analysts’ forecasts of 2.3% beforehand. The Bank of England had expected inflation to rise to 2.4% because of a smaller fall in domestic energy bills, although slower growth in hotel prices helped restrict the rise.
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