According to CoinMeta, KPMG's chief economist Yael Selfin stated in a report that although the inflation rate in the UK rose from 2.6% to 2.9% in July, indicating a gradual increase in inflation, this is unlikely to prompt the Bank of England to raise interest rates. She noted that domestic price pressures in the UK are easing, and the inflation level is roughly in line with the Bank of England's latest forecasts. Selfin also pointed out that encouragingly, the core inflation rate continued to slow down in July, with the service sector inflation rate falling from 3.6% to 3.4%. Given that the weakness in the labor market is less severe than in 2022, rising energy costs are unlikely to trigger a significant second-round effect in the coming months. She said, "We expect interest rates to remain unchanged for the rest of this year."