Inflation remains above 2pc target ahead of interest rate decision - latest updates

Inflation remained stubbornly above the Bank of England’s 2pc target last month, official figures show, as policymakers prepare to announce the next decision on interest rates. The consumer prices index was unchanged at 2.2pc in August, according to the Office for National Statistics (ONS), which was in line with economists’ expectations. It follows a resurgence in price pressure from the services sector, which covers prices in areas such as hotels, package holidays, hospitality and culture. Services inflation rose by 5.6pc in August, as economists expected, compared to 5.2pc in July...