The United Kingdom's Consumer Price Index (CPI), not seasonally adjusted (n.s.a), showed a modest increase in December 2024, reflecting ongoing inflationary pressures despite economic headwinds. The index rose to 135.60, up from 135.10 in November 2024, highlighting a continuation of the gradual upward trend in consumer prices.
This latest data, updated on January 15, 2025, paints a picture of a still-elevated cost of living, as prices for goods and services continue to press higher albeit at a relatively marginal pace. Economists and policymakers are closely monitoring these monthly shifts, as the UK's economic landscape navigates a myriad of challenges, from fluctuating energy costs to supply chain disruptions stemming from various global uncertainties.
The December data underscores an ongoing concern for monetary policymakers at the Bank of England, who have been grappling with finding the right balance between curbing inflation and supporting economic growth. As the cost of living incrementally inches up, households across the UK feel the pinch, setting the stage for what could be a key component in shaping fiscal and monetary strategies for 2025.
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