Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK inflation edged higher in December, the first uptick in annual price gains since February 2022, the Office for National Statistics said Wednesday, as CPI rose 4.0% y/y, above the 3.9% recorded in November and outpacing analyst expectations for a deceleration to 3.8%.
Core inflation was unchanged on November at 5.1%. Both measures remain largely in line with the Bank of England's latest forecasts for year-end, although of course still well above the MPC's 2% target.
“The rate of inflation ticked up a little in December, with rises in tobacco prices due to recently introduced duty increases. These were partially offset by falling food inflation, where prices still rose but at a much lower rate than this time last year," said Grant Fitzner, ONS chief economist. (MNI INTERVIEW: Bright Spots In UK Growth Outlook-ONS's Fitzner)
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.