Bank of England still in Catch-22 mode?
Latest data suggests so!
In a previous post, I pointed out that the increase in interest rates in the UK could contribute to stickiness in service inflation.
Today’s release (17th of April) suggests that this channel might be in play.
Actual rentals for housing increased in March to 7.2% on a year-on-year basis. Service inflation is sticky at 6.0%.
In the next post, I will compare major central banks' inflationary journey, focusing on this channel.
This is the link to my previous post:
