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UK consumer price inflation held at 2% in the 12 months to June, but services inflation stayed at 5.7% and core inflation at 3.5%. Economists judged an August Bank of England rate cut to be finely balanced after the data.
Sticky UK inflation keeps rates higher for longer, which supports sterling and marginally firms the dollar's relative position. The direct effect on feed commodity prices is minimal.
reuters.comWilliam SchombergJul 17, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
