UK inflation unexpectedly eases in Dec, could reduce pressure in bond mkts

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UK inflation unexpectedly eases in Dec, could reduce pressure in bond mkts - Business Standard

Quick Summary:

The Office for National Statistics said Wednesday that inflation, as measured by the consumer prices index, was 2.5% in the year to December, largely as a result of easing price pressures in the services sector, which accounts for around 80% of the British economy.That was down from 2.6% the previous month.

Inflation in the UK unexpectedly fell in December, a move that will likely fuel pressure on the Bank of England to cut interest rates again next month.

Though inflation has fallen, it remains above the Bank of England's target of 2%.