Hopes of August rate cut fall after UK inflation stays at 2%

‘Taylor Swift effect’ on hotel prices partly blamed for UK inflation defying forecast dropBusiness live – latest updatesThe chances of an August interest rate cut have taken a blow after a sharp jump in hotel prices meant progress in the UK’s fight against inflation stalled last month.A near 9% jump in the cost of a hotel room – blamed by some analysts on a “Taylor Swift effect” – offset the impact of cut-price clothing to leave the government’s preferred measure of the cost of living at its 2% target for a second month in a row in June. Continue reading...Weiter zum vollständigen Artikel bei TheGuardian Weiter zum vollständigen Artikel bei TheGuardian