UK inflation moderates slightly in December

Tom Brown

15-Jan-2025

LONDON (ICIS)–Inflation in the UK eased by 0.1 percentage point in December as compared with the previous month, slightly tapering the steady upward movement of consumer pricing in the country in recent months.

UK inflation dipped to 2.5% in December compared with 2.6% the previous month as upward movement for transport costs was offset by lower hotel and restaurant prices, according to the UK Office for National Statistics (ONS).

Upward price pressure from services, which has remained stubbornly high, eased slightly to 4.4% compared with 5% in November.

A decline in inflation levels could potentially reduce pressure on the UK government after a decline in the value of the sterling and a surge in borrowing costs amid unease over public spending cuts, global volatility over the prospect of fresh US tariffs, and inflation.

READ MORE

Global News + ICIS Chemical Business (ICB)

See the full picture, with unlimited access to ICIS chemicals news across all markets and regions, plus ICB, the industry-leading magazine for the chemicals industry.

Contact us

Partnering with ICIS unlocks a vision of a future you can trust and achieve. We leverage our unrivalled network of industry experts to deliver a comprehensive market view based on independent and reliable data, insight and analytics.

Contact us to learn how we can support you as you transact today and plan for tomorrow.