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The inflation rate for countries using the euro was 2.4% in December 2024, up from 2.2% in November. In June, the European Central Bank (ECB) cut its main interest rate from an all-time high of 4% ...
UK inflation accelerated in December for the first time since February last year, official data showed Wednesday. Consumer prices rose 4% last month compared with a year ago, up from a rate of 3.9 ...
The OECD reduced its forecast UK growth rate for 2024 to 0.8% – the weakest across the G7. UK set for highest inflation in G7 as 2024 growth forecast cut – OECD Skip to main content
Uk inflation history inflation hit 24% in 1975 and in 1976 the Sterling crisis occurred, followed by the Winter of Discontent [2]. The traditional measure of inflation in the UK for many years was the Retail Prices Index (RPI), which was first calculated in the early 20th century to evaluate the extent to which workers were affected by price changes during the First World War.
July 2024 data showed that the inflation rate had dropped to 2.9%, the lowest since March 2021, with used car prices returning to normal following the 2020–2023 global chip shortage. [182] Increases in rent, [ 183 ] childcare [ 184 ] and electricity [ 185 ] still outpaced inflation at around 5%.
The ONS reports that UK inflation fell to 2.3% in April, its lowest rate for nearly three years. [450] Ex-Post Office boss Paula Vennells breaks down in tears at the inquiry into the Horizon IT scandal, as she acknowledges that what she told MPs and colleagues in one meeting about prosecutions of sub-postmasters wasn't true. [451]
The Office for National Statistics said that inflation dropped to 3.9% in the year to November, its lowest level since September 2021, from 4.6% the previous month. The sharp drop has fueled ...
The Office for National Statistics said consumer price inflation rose by 2.6% in the year to November, up from 2.3% the previous month. It said stubbornly high inflation in the crucial services ...