UK Services Inflation

## What this measures

The 12-month change in the prices of services in the CPI basket.

## Why it matters

Services prices track wages closely, and the Bank of England watches them as its main gauge of domestically generated inflation.

## How to read it

Services inflation that stays well above 2% keeps the Bank cautious about cutting rates.

## What it does not say

Some services prices (rents, phone bills) reset once a year, which makes April jumps common.

## Source

Office for National Statistics, series D7NN (dataset MM23), "CPI ANNUAL RATE: SERVICES". Palanor reads it from the ONS website's time-series data every day.

Source: Office for National Statistics licensed under the Open Government Licence v.3.0.