It’s good enough news for Chancellor Reeves this morning as inflation remains static at the Bank of England’s 2% target according to new figures from the Office for National Statistics. Upward pressure came from restaurants and hotel price rises, countered by falls in garment prices. The figure is still higher than the expected 1.9%…

Chief Secretary to the Treasury Darren Jones remained cautious: “It is welcome that inflation is at target, but we know that for families across Britain prices remain high. We face the legacy of fourteen years of chaos and economic irresponsibility.” Falls below target are likely needed to buoy less dove-ish rate setters at the Bank of England. A rate cut may not yet come our way in August…