UK inflation touches two-year low

  • News Digest

Jan 18, 2019-

British annual inflation slowed in December to a two-year low on falling motor fuel and oil prices, sitting just above the Bank of England’s target, official data showed on Wednesday. The Consumer Prices Index 12-month rate declined to 2.1 percent last month from 2.3 percent in November, the Office for National Statistics (ONS) said in a statement. The December reading was the lowest level since January 2017 and matched market expectations. The rate was also a whisker away from the Bank of England’s official target level of 2.0 percent. “Inflation eased mainly due to a big fall in petrol, with oil prices tumbling in recent months,” said Mike Hardie, head of inflation at the ONS. “Air fares also helped push down the rate with seasonal prices rising less than they did last year. (AFP)

Published: 18-01-2019 10:48

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