Article 295Z6 UK inflation hits two-year high of 1.6%

UK inflation hits two-year high of 1.6%

by
Katie Allen
from Economics | The Guardian on (#295Z6)

Air fares, imported raw materials, food and petrol price rises plus Brexit-fuelled fall in pound will squeeze family finances in 2017

Inflation has jumped to the highest rate for two-and-a-half years, hitting 1.6% as the pound's sharp drop since the Brexit vote continues to push up costs in the UK.

Official figures for December showed air fares, food prices and fuel all helped to drive the rise from 1.2% in November. The December rate, as measured on the consumer prices index (CPI), was the highest since July 2014 and higher than forecasts for 1.4% in a Reuters poll of economists.

Related: UK inflation: now it's the pound in your pocket being devalued

Related: UK economy is overheating and veering towards stagflation

Related: Davos 2017: Chinese president Xi and Trump adviser speak - Day One live

Continue reading...
External Content
Source RSS or Atom Feed
Feed Location http://feeds.theguardian.com/theguardian/business/economics/rss
Feed Title Economics | The Guardian
Feed Link https://www.theguardian.com/business/economics
Feed Copyright Guardian News & Media Limited or its affiliated companies. All rights reserved. 2025
Reply 0 comments