UK inflation sits at 2.7% for third month in a row

According to the Office for National Statistics (ONS), the UK consumer prices inflation (CPI) stayed at 2.7% in December, for the third month in a row.

This figure was in line with experts’ predictions of the CPI, but above the Bank of England’s 2% target. The rise in electricity and gas prices was balanced to a degree by a fall in fuel costs and air transport, said the ONS.

Consumers and households have faced some fairly steep cost increases recently, with gas rates going up 5.2%, electricity rates going up 3.9%, and the price of food and non-alcoholic drink rising by 3.8% since December 2011.

Source: BBC News

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