UK Latest: Inflation Falls Less Than Expected

The video discusses the recent drop in CPI, which was higher than expected due to transport costs, while food and energy costs decreased. Analysts predict a peak rate of 6% for the UK, potentially triggering a recession. Despite expectations, core inflation remains steady, and services inflation has risen. The Bank of England is concerned about domestically generated inflation, influenced by wage growth, leading to a slight rise in the pound.

What factors contributed to the rise in core inflation despite expectations of a decline?

What is the significance of the services inflation rate reaching 7.4%?