UK’s annual inflation rate decreases to 2.5 percent in December
Date
1/15/2025 7:10:33 AM
(MENAFN) The UK’s annual inflation rate for December decreased slightly to 2.5 percent, down from 2.6 percent in November, according to data released on Wednesday by the Office for National Statistics (ONS). This result was below the market expectation of 2.6 percent, signaling a modest easing of inflation. The main contributors to the rise in inflation were higher prices in communication and miscellaneous goods and services, which helped push the overall figure higher.
On the other hand, transport expenses showed improvement, declining by 0.6 percent year-on-year in December, a smaller drop compared to the more substantial 0.9 percent fall seen in November. The transport sector’s slowdown in price declines contributed to the overall moderation in inflation.
Recreation and culture saw price increases of 3.4 percent annually, though this was a slight deceleration from November's 3.6 percent. Similarly, restaurants and hotel costs rose by 3.4 percent compared to the previous year, down from a 4.0 percent increase in November. These sectors contributed to the overall inflation trend, but their pace of growth has moderated somewhat.
Core inflation, which excludes more volatile items like food, energy, alcohol, and tobacco, stood at 3.2 percent in December, down from 3.5 percent in November. On a monthly basis, the Consumer Prices Index (CPI) increased by 0.3 percent in December, accelerating from a 0.1 percent rise in November, indicating some upward pressure in prices during the final month of the year.
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