UK Inflation in August was mostly a curious story about air fares

From notayesmanseconomics.wordpress.com

This morning has brought more confirmation that the UK is in a better phase for inflation as we received the official release.As it is Bank of England day, because they will be voting on interest-rates later we can start with the measure they target. As an aside with the US Federal Reserve apparently split between a 0.25% cut and a 0.5% one then it would be sensible for the Bank of England to vote later than usual so it can see both the action and the response. The Consumer Prices Index (CPI) rose by 2.2% in the 12 months to August 2024, unchanged from July. So it was a case of singing along with Bob Seeger and the ... (full story)