UK inflation unexpectedly slowed in December, according to new figures from the Office for National Statistics (ONS). The Consumer Prices Index (CPI) data helped provide a boost to the Government after fears over the economic outlook drove turbulence in ...

The British Chambers of Commerce has warned that there are already 'warning lights' flashing over the jobs market as the latest figures showed unemployment rising, vacancies falling and the biggest dr

Services inflation fell from 5 per cent to 4.4 per cent. This is a figure watched closely by the Bank when deciding whether to cut interest rates or not. The largest downward contribution to inflation rates came from restaurants and hotels which fell to 3.4 per cent, down from 4 per cent in November.

UK inflation dipped to 2.5 per cent in December 2024, after rising to 2.6 per cent in November, the Office for National Statistics has revealed.

The rate is still well above the Bank of England’s target of 2% but could open the door to another interest rate cut next month

THE UK’s rate of inflation has slowed in a boost for the government – we reveal what it means for your money. The Office for National Statistics (ONS) said the Price Index

The rate of Consumer Prices Index (CPI) inflation is expected to have come in at 2.6% last month, unchanged from November.

The latest figures from the ONS show UK inflation fell to 2.5% for December 2024 from 2.6% in November. This follows a period where inflation hit a 41-year high of 11.1% in October 2022, largely due to global supply chain issues, soaring energy prices after the Russian invasion of Ukraine, and the effects of COVID lockdowns.

In November, the Consumer Prices Index (CPI) came in at 2.6 per cent, where petrol, train travel, and live entertainment pushed up prices.

Inflation in the U.K. unexpectedly fell in December, a move that will likely fuel pressure on the Bank of England to cut interest rates again next month

The rise in the inflation rate means higher product prices and a fall in the purchasing power of money. When general prices rise during inflation, but the value of money stays the same, households can buy fewer goods for the same monetary sum.

Britain's annual inflation rate unexpectedly fell to 2.5 percent last month, official data on Wednesday showed, easing some pressure on the Labour government faced with economic unrest.