UK CPI eases to 2.1% y/y in December, meets estimates
|The UK Consumer Prices Index (CPI) 12-month rate came in at 2.1% in December, down from November’s 2.3% and meeting the 2.1% print expected, the UK Office for National Statistics (ONS) reported on Wednesday.
Meanwhile, the core inflation gauge (excluding volatile food and energy items) arrived at 1.9% y/y versus 1.8% booked in November while bettering the consensus forecast of 1.8%.
The monthly figures showed that the UK consumer prices steadied at 0.2% in December, matching 0.2% expectations.
Main Points (via ONS):
“The largest downward contributions to change in the 12-month rate came from falls in petrol prices and from air fares, where ticket prices rose between November and December 2018, but by less than a year ago.
These downward effects were offset by upward contributions from a variety of categories including accommodation services and, to a lesser extent, mobile phone charges, games, toys and hobbies, and food.”
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