The rate of inflation dropped slightly in December as the price of fuel and clothing dropped, however concerns are growing that wage rises are embedding inflation into the economy.

The consumer price index was 10.5 per cent in the 12 months to December, the Office for National Statistics said today (January 18), a drop when compared with the 10.7 per cent seen in November.

Restaurant and hotels, as well as food and non-alcoholic beverages, were the main factors pushing prices up in the month.

Fuels, clothing and footwear, and recreation and culture all saw lower prices.

ONS chief economist Grant Fitzner said: “Inflation eased slightly in December, although still at a very high level with overall prices rising strongly during the last year as a whole.”

Click here to read the full article

GET IN TOUCH!


  MAIL US
enquiries@growthinvest.com

  CALL US
020 7071 3945

FOLLOW US ON


Throughout our site you will find links to external websites. Although we make every effort to ensure these links are accurate, up to date and relevant, we cannot take responsibility for pages maintained by external providers.