Some members felt that the data available since the last meeting had not increased their confidence that inflation would converge to the 2% target by 2025These members also viewed risks to the inflation outlook as being tilted to the upsideWage growth had surprised to the upside and inflation seemed to be stickierServices inflation momentum was very high, and the pace of domestic disinflation had been overestimatedIt was also suggested that further significant wage pressures were in the pipelineAll of this suggested that the last mile, as the final phase of disinflation, was the most difficultIt was argued that a small undershooting of inflation would be much less costly than a continued ove
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