UK inflation fell from 2.3% to 2.1% in December, approaching its lowest rate for two years, according to the Office for National Statistics (ONS).
The Consumer Price Index (CPI) fell to 2.1% in December as a result of downward pressure from petrol prices and air fares. This is the lowest figure since January 2017, when inflation was 1.8%. Falling crude oil prices led to petrol prices reducing by 6.4 pence per litre between November and December 2018, compared with a rise of 0.8 pence per litre between November and December 2017. The price of petrol at the pump, in December 2018, was the lowest since April 2018. Falling oil price causes CPI inflation to drop to 2.3% in November This was somewhat offset by upward contributions...
To continue reading this article...
Join Professional Adviser
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.
