Bank of England Inflation Report, August 2005

The Bank of England published its August 2005 Inflation Report on 10 August. In the report the Bank said the UK's growth outlook has weakened slightly in the near term, pulled down by sluggish consumer spending.

"The Committee judges that there are also downside risks to consumer spending and hence total demand in the next quarter or two," Governor Mervyn King told a news conference.

"CPI inflation as 2.0 percent in the latest reading exactly at target but it had risen by around one percentage

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