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  • Consumer price inflation, UK: December 2024

    From ons.gov.uk

    The Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 3.5% in the 12 months to December 2024, unchanged from November. On a monthly basis, CPIH rose by 0.3% in December 2024, down from 0.4% in December 2023. The Consumer Prices Index (CPI) rose by 2.5% in the 12 months to December 2024, down from 2.6% in the 12 months to November. On a monthly basis, CPI rose by 0.3% in December 2024, down from 0.4% in December 2023. The largest downward contribution to the monthly change in both CPIH and CPI annual rates came from restaurants and hotels; the largest upward contribution to both came from ... (full story)

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Inflation continues to rise which is expected. Due to the problems in the gilt market BOE will highly probably cut rates in February and possibly by 50bps. BOE will have to start the QE soon. GBP to continue losing purchasing power and to continue losing value against safe haven currencies.
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