15th Jan 2025 07:24
(Alliance News) - Consumer price inflation in the UK slowed by more than expected in December while the decline in producer prices slowed, data published by the Office for National Statistics showed Wednesday.
The consumer price index rose 2.5% in December from a year before, slowing from a 2.6% annual increase in November. The FXStreet-cited market consensus had expected inflation to pick up to 2.7%.
On a monthly basis, consumer prices rose 0.3% in December, sped up from 0.1% in November, but behind consensus of a 0.4% increase.
Separately, the ONS reported that the decline in producer input prices slowed to 1.5% on-year in December from 2.1% in November, the latter revised from a previously reported 1.9% fall. The FXStreet-cited consensus had expected a sharper slowdown to 1.3% in December.
On a monthly basis, producer input prices rose by 0.1% in December, compared to no change in November, but short of the market consensus of a 0.2% increase.
By Tom Budszus, Alliance News slot editor
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