Snapshot of Eurozone inflation falls to 5.5% in sharp contrast to UK. Economists put reason for divergence down to Brexit and Britain’s energy price guarantee.
Snapshot of Eurozone inflation falls to 5.5% in sharp contrast to UK. Economists put reason for divergence down to Brexit and Britain’s energy price guarantee.
The 2% target is CPI.
https://www.bankofengland.co.uk/monetary-policy/inflation
Emphasis mine.
They also link to the ONS there, which also says that CPI is 8.7%
If they were targeting CPI Core, which the ONS also report on at the link below, the number they would be quoting is 7.1%
https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/may2023