Economics
U.K. December Inflation Edges Up on Fuel Costs, Air Fares
- Air fares surge 46% in biggest December increase since 2002
- Carney says now is not the time to raise U.K. interest rates
U.K. Inflation Rises 0.2% in December on Air Fares
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A surge in air fares produced a modest pickup in U.K. inflation in December as lower food prices kept the rate well below the Bank of England’s target.
Prices rose an annual 0.2 percent, the most since January, following a 0.1 percent gain in November. Core inflation, which excludes volatile food and energy prices, accelerated to 1.4 percent, the highest in almost a year, the figures from the Office for National Statistics in London show.