British Consumer Prices Show Slowing Growth in December
The latest figures from the British Office for National Statistics (ONS) show a deceleration in the rate of consumer price growth in the country. The annual inflation rate in December stood at 2.5 percent, a slight decrease from the 2.6 percent recorded in November. On a monthly basis, prices rose by 0.3 percent, a relatively modest increase.
The core inflation rate, which excludes energy, food, alcohol, and tobacco, remained higher than the overall index, at 3.2 percent in December, down from 3.5 percent in November. The core rate has been a key focus for policymakers and economists, as it is seen as a better indicator of underlying price pressures.
The largest downward contribution to the change in the annual rate came from the restaurant and hotel sector, as well as the categories of alcohol and tobacco. In contrast, the transport sector made the largest positive contribution to the monthly increase in prices.