UK inflation holds at 2% but underlying price pressures stay strong

British inflation remained steady at 2.0% in June, defying expectations of a slight decrease. Strong services inflation was at 5.7%, sparking uncertainty over the timing of the Bank of England's potential interest rate cut. The BoE, concerned about persistent price pressures, is expected to announce its decision on rates on Aug. 1. There are predictions of a 50% chance of a rate cut to boost the UK economy following the recent election.