UK inflation lowers to 2.5% in December

Down from 2.6% in November The UK Consumer Prices Index (CPI) dropped to 2.5% in December, below FactSet’s consensus of 2.8% for the month. According to data from the Office for National Statistics today (15 January), the downward trend was driven by restaurants and hotels, with the latter recording a 1.9% decline in prices over the month, as opposed to …

UK inflation slides to 2.3%

Inflation fell sharply to a near three-year low in April thanks largely to lower energy prices, according to the Office for National Statistics. UK inflation has fallen sharply to its lowest level in nearly three years. According to the Office for National Statistics (ONS), consumer price index (CPI) inflation fell to 2.3% in April from 3.2% in March. Cooler energy …

UK inflation drops less than expected to 3.2%

Food price rises are slowing but rate cut decision still several months away if figures remain where they are. UK consumer prices index (CPI) inflation slowed less than expected to 3.2% in March, raising the prospect that a rate cut will take longer than predicted. Although the March figure is the smallest monthly inflation rise for two-and-a-half years, it is …

UK inflation falls further than expected in November at 3.9%

‘The Bank of England now certainly faces a less daunting task’ The UK Consumer Prices Index (CPI) has dropped to 3.9% in the year to November 2023, according to data from the Office for National Statistics released today (20 December). The fall defied expectations, as economists had forecast inflation to decrease to 4.4% for the month from 4.6% in October …

State pension set to rise 8.5% as CPI inflation remains ‘steady’

UK inflation remained steady last month as prices rose 6.7% year-on-year meaning pensioners are likely to get a bumper 8.5% increase in their state pension next year under the triple lock policy. The Office for National Statistics (ONS) said on 18 October that prices had risen by 0.5% between August and September, matching market expectations. Core inflation, which excludes energy, …

Bank of England holds rates at 5.25% after inflation falls

MPC in split decision after inflation unexpectedly fell in August The Bank of England (BoE) has paused its hiking cycle and opted to keep interest rates at the current level of 5.25% after inflation unexpectedly fell in August. It was a tight split decision by the Bank, with five members of the Monetary Policy Committee voting to maintain the Bank …