UK Inflation Falls to Lowest Level in Two Years

Weaker fuel prices helped UK inflation fall to its lowest level in nearly two years, according to the Office for National Statistics.

December's Consumer Prices Index (CPI) dropped to 2.1% from 2.3% in November, the lowest it has been since January 2017 when it reached 1.8%.

In November 2017, inflation reached a five-year high of 3.1%. 

The head of inflation at the ONS, Mike Hardie, said: "Inflation eased mainly due to a big fall in petrol, with oil prices tumbling in recent months.

"Air fares also helped push down the rate, with seasonal prices rising less than they did last year. These were partially offset by small rises in hotel prices and mobile phone charges.

"House price growth was little changed in the year to November, with buoyant growth across much of the UK held back by London and the South East."

Source : Insight DIY Team

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