UK inflation holds steady at Bank of England’s 2% target, above expectations

U.K. inflation held steady at the Bank of England’s 2% target in June, Official National Statistics data showed Wednesday.

The headline reading came in above analyst expectations at 1.9%, according to economists polled by Reuters, and was in line with the previous 2% reading in May.

Services inflation — which is closely watched by the Bank of England given its dominance within the U.K. economy and its reflection of domestically-generated price rises — remained at 5.7% in June.

Core inflation, excluding energy, food, alcohol and tobacco, was 3.5%, also on par with the 3.5% recorded in May.

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