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The UK's Consumer Prices Index (CPI) inflation rate remained unchanged at 2.2% in August 2024, according to the Office for National Statistics. This figure is above the Bank of England's target of 2%, keeping the door open for potential interest rate cuts later this year. The core CPI, which excludes volatile items such as energy and food, rose by 3.6% year-on-year in August 2024, slightly higher than the expected 3.5%. The steady inflation rate comes ahead of the Bank of England's next interest rate decision.
