UK Consumer Price Index (CPI) inflation fell back well below the official target in July after having suddenly spiked a month before. A continuation of the subdued inflation rate should allow the Bank of England (BoE) to remain relaxed about keeping monetary policy ultra-loose without stoking upwards price pressures as a stronger sterling and slack in the labor market help keep prices in check. In August, market consensus suggests the rate should fall further to 1.5%, which would be well below the official 2% target. The British Retail Consortium's (BRC) latest survey adds some support to those expectations, showing ... (full story)