United Kingdom inflation fell back to three per cent last month

Israeli shekels

Commenting on the ONS figures Paul Hollingsworth, senior United Kingdom economist at Capital Economics, said: "The fall-back in CPI inflation from 3.1% in November to 3% in December marks the beginning of what we expect will be a sustained downward trend over the course of this year".

Consumer price inflation for the rural areas stood at 5.27 per cent in December 2017 against 4.7 per cent in November and 3.83 per cent in December 2016.

A drop in the UK's inflation rate in December suggests the post-Brexit hit to living standards may finally be easing.

"Still remaining well above the Bank's 2% target, another interest rate rise is not off the table".

On a year-on-year (YoY) basis, the CPI inflation last month was higher than the 3.41 per cent recorded in December 2016.

Earlier this month, Finance Minister had told Parliament that the inflation had increased owing to a seasonal rise in vegetable prices and the higher house rent allowances disbursed to government employees under the 7th Pay Commission recommendations.

Core inflation that excludes energy, food, alcoholic beverages and tobacco, slowed to 2.5 percent in December from 2.7 percent in November.

Mumbai: With the latest inflation prints moving up, the Reserve Bank is likely to raise its inflation forecast for March and may leave the key rates unchanged in the upcoming policy review next month, says a report.

The slight fall in the annual rate of inflation was due to lower food and fuel prices and less pressure on transport costs, the ONS reported.

Compared with November previous year, outstanding price falls in last month included fresh vegetables, down by 6.4 percent; culture and entertainment, down by 1.3 percent; and furniture and household equipment, down by 1.1 percent.

"Inflation has been running at roughly the same rate since last spring following significant increases, partly due to the weaker pound after the European referendum", said James Tucker, the statistics agency's senior statistician. "These downward contributions were partially offset by prices for motor fuel, which increased between November and December 2017, having fallen a year ago".

Related News:



Most liked

Four-Player Stardew Valley Multiplayer Teased, Creator "Can't Wait to Share"
Stardew Valley is certainly a game you can pick up and play for a few minutes and then come back to in the future. The screenshot shows four players, farming together, which is the least we'd expect.

Volcanic ash triggers evacuation in Philippines, 'hazardous eruptions' feared
Thousands of people in the Philippines have been forced to evacuate as the country's most active volcano threatens to erupt. Phivolcs said: "For the past 24 hours, Mayon Volcano in Albay province has noticeably increased its unrest".

Girl, 6, Suffers Frightening Side Effects After Taking Tamiflu
The list also includes "delusions" and "hallucinations" as possible side-effects from the medication, but they are very rare. It is written in the fine print, and Hardesty says there's always a chance of a side effect with any drug.

US President insists he is "not a racist"
On Friday, Trump tweeted that, "the language used by me at the DACA meeting was tough , but this was not the language used". Fellow South Carolina GOP Sen. "Following comments by the President, I said my piece directly to him yesterday (Thursday)".

Police receive multiple calls about 1-95 wrong way driver in Darien
He "was able to avoid a head-on collision with the suspect vehicle, but it struck his cruiser in a sideswipe manner". Police say a trooper near Exit 12 in Darien located the Audi, and it crashed into him.

Senator Reveals What Trump Did for Haiti Before Becoming President
I am not a racist. "Following comments by the President, I said my piece directly to him yesterday (Thursday). Trump has denied using that language, however a Democrat senator present at the meeting insists he did.

Mike Zimmer: Vikings 'made some critical errors' in win vs. Saints
Vikings: move on to Philadelphia for the 10th championship game appearance in franchise history, the fifth in the last 30 years. Bank Stadium when Case Keenum completed a 61-yard touchdown pass to Stefon Diggs as the clock ticked down to 0:00.

Trump Defends Self After Comments, Says: 'I Am Not A Racist'
Hours after the story broke on Thursday, White House spokesperson Raj Shah did not deny the " shithole " remark. Durbin said the remarks were "vile, hate-filled and clearly racial in their content".

Pakistan considers 'invitation' after India says it will call Islamabad's 'nuclear bluff'
The wing further added that the exchange of fire also claimed three lives on the Indian side while injuring a few others. If we are forced, then we may resort to "other actions" by stepping up the military offensive.

Bell County Museum hosts "Unity!: A Celebration of Martin Luther King, Jr".
Day, so with the nationwide commemoration taking place Monday, the Northfield Human Rights Commission is prepared to celebrate. King helped open the doors to dreams and hopes that many thought they would never have an opportunity to see.

Saints' Marcus Williams thankful for support day after costly play
However, there is no better look at how it all went down than a field-level video shared by the team late Sunday night . Well how about starting quarterback Case Keenum's game-winning throw? "Marcus is a great player".

Pet Translator: Scientist Developing Device To Convert Dog Barks Into English Language
Slobodchikoff and his team are sifting through thousands of videos of dogs to analyze their various barks and body movements. In his work, he claims animals and humans will be able to communicate effectively in just ten years' time.

Security Officials Warned Jared Kushner About Friendship With Wendi Deng Murdoch
Jared Kushner was warned of Wendi Deng Murdoch during a security briefing just before President Trump's inauguration. . The outlet notes that no one has been accused of wrongdoing, but said officials gave the warning "to highlight to Mr.

Florian Munteanu Roped In For Creed 2
Steven Caple Jr. will direct " Creed 2 ", which is based on a script by Stallone and " Luke Cage' showrunner Cheo Hodari Coker". The film is being produced by Irwin Winkler, Charles Winkler, William Chartoff, David Winkler, and Kevin King-Templeton.

'Oh Happy Day' singer Hawkins dies at 74
Hawkins stood out for enjoying commercial success while still performing music that openly celebrated religious faith. Hawkins' hit single " Oh Happy Day " became an global hit in 1969, and reached No. 4 on the US Singles Chart .