UK inflation dips slightly to 10.5% — second drop in two months | TheCable
The United Kingdom’s inflation rate dropped slightly to 10.5 percent in December 2022.of a recession in the country.slightly to 10.7 percent from the 41-year high of 11.1 percent in October.It further said the largest upward contributors are housing and household services and food and non-alcoholic beverages.
ONS added that the largest downward contribution to the change came from transport , clothing and footwear, and recreation and culture, with rising prices in restaurants and hotels. Meanwhile, food and non-alcoholic beverage prices, making the largest upward contributions, rose by 16.9 percent in the 12 months to December — slightly up from 16.5 percent in November.Speaking on the inflationary movement in the country, Grant Fitzner, ONS chief economist said: “Inflation eased slightly in December, although still at a very high level, with overall prices rising strongly during the last year as a whole.
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