Inflation at lowest in nearly two years

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The UK inflation rate fell to 2.1% in December, from 2.3% the previous month, according to the Office for National Statistics( ONS ).

The Consumer Prices Index( CPI) figure was the lowest in nearly two years, pushed down by petrol rate falls.

The inflation speaking was in line with analysts’ expectations.

The figure is close to the Bank of England’s target of 2% and may signify the Bank is less likely now to consider any rate rises in the near future.

economist

Inflation is being outdone by average UK pay growing, with the latest available figures had demonstrated that wages eliminating bonuses were up by 3.3% for the three months to October 2018.