United Kingdom: Inflation jumps in December
January 17, 2017
Consumer prices increased 0.5% from the previous month in December, above the 0.2% figure recorded in November. December’s increase reflected higher prices for transport, restaurants and food, while the price food and non-alcoholic beverages dropped compared to the prior month.
Inflation increased from 1.2% in November to 1.6% in December, the highest reading since July 2014. The figure came in above the 1.4% expected by the markets. Annual average inflation edged up from 0.5% in November to 0.7% in December.
Author: Oliver Reynolds, Economist