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MNI (London)

UK CPI 5.4% y/y highest since March 1992

RPI 7.5% highest since March 1991

  • Analysts had been looking for a more moderate CPI rise to 5.2% from 5.1% in November.
  • Food and non-alcoholic beverage prices accounted for much of the increase, adding 0.18 percentage points to the change in CPI, with eight of the nine major categories exerting upward pressure on the index.
  • Motor prices actually shaved 0.04 percentage points from the change in CPI, despite hovering near historically-high levels, as highlighted in the MNI morning briefing. But that didn’t prevent core CPI from stretching to a new record high of 4.2% in December from 4.0% in November.
  • RPI surged to an annual pace of 7.5%, the highest rate since March 1991, rising from 7.1% in November.

MNI London Bureau | +44 203-865-3812 |
MNI London Bureau | +44 203-865-3812 |

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