Posted 1/17/2024, 7:00:37 PM
UK Inflation Ticks Up to 4% in December, But Remains on Downward Path
- Inflation in Britain rose to 4% in December, up from 3.9% in November, halting a 10-month decline
- The increase was due to a change in tobacco taxes that pushed up prices
- Inflation remains much lower than last year's peak of over 10%
- The data shows PM Rishi Sunak met his pledge to cut inflation in half within a year
- Economists predict inflation could drop to the Bank of England's 2% target as early as April or May