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19.01.2016 10:41 UK consumer price inflation rises rose to 0.2% year-on-year in December

The Office for National Statistics (ONS) released the consumer price inflation data for the U.K. on Tuesday. The U.K. consumer price index rose to 0.2% year-on-year in December from 0.1% in November, in line with expectations. It was the highest reading since January 2015.


The rise was driven by an increase in air fares, which climbed 46% in December. It was the highest rise since 2002.


On a monthly basis, U.K. consumer prices increased 0.1% in December, beating expectations for a flat reading, after a flat reading in November.


Consumer price inflation excluding food, energy, alcohol and tobacco prices climbed to 1.4% year-on-year in December from 1.2% in November, beating expectations for a 1.2% gain.


The Retail Prices Index climbed to 1.2% year-on-year in December from 1.1% in November, exceeding expectations for an increase to 1.1%.


In 2015 as a whole, consumer price inflation was 0%, down from 1.5% in 2014. It was the lowest level since 1950.


The consumer price inflation is below the Bank of England's 2% target.

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