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UK inflation drops to 2.5 percent in December
(MENAFN) The UK’s annual inflation rate decreased to 2.5 percent in December, slightly lower than the 2.6 percent recorded in November, as per data from the Office for National Statistics (ONS) released on Wednesday.
This result came in below the market expectation of 2.6 percent.
The main contributors to the increase in inflation were communication costs and miscellaneous goods and services.
Transport costs fell by 0.6 percent year-on-year in December, showing improvement from the 0.9% decline in November.
On the other hand, recreation and culture prices grew by 3.4 percent annually, a slowdown from 3.6 percent in November.
Restaurant and hotel prices saw a year-on-year rise of 3.4 percent, down from 4.0 percent in November.
Core inflation, which excludes volatile categories like energy, food, alcohol, and tobacco, climbed 3.2 percent annually in December, down from 3.5 percent in November.
Month-on-month, the Consumer Prices Index (CPI) increased by 0.3 percent in December, up from 0.1 percent in the prior month.
This result came in below the market expectation of 2.6 percent.
The main contributors to the increase in inflation were communication costs and miscellaneous goods and services.
Transport costs fell by 0.6 percent year-on-year in December, showing improvement from the 0.9% decline in November.
On the other hand, recreation and culture prices grew by 3.4 percent annually, a slowdown from 3.6 percent in November.
Restaurant and hotel prices saw a year-on-year rise of 3.4 percent, down from 4.0 percent in November.
Core inflation, which excludes volatile categories like energy, food, alcohol, and tobacco, climbed 3.2 percent annually in December, down from 3.5 percent in November.
Month-on-month, the Consumer Prices Index (CPI) increased by 0.3 percent in December, up from 0.1 percent in the prior month.
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