UK inflation rate (excluding owner occupiers' housing costs) fell to 2.1% in December, from 2.3% the previous month, according to the Office for National Statistics (ONS).
The Consumer Prices Index including owner occupiers’ housing
costs (CPIH) 12-month inflation rate was 2.0% in December 2018, down
from 2.2% in November 2018.
The largest downward contributions to change in the 12-month rate
came from falls in petrol prices and from air fares, where ticket
prices rose between November and December 2018, but by less than a year
ago.
Given this and the ongoing Brexit uncertainty there is no way that the Bank of England will raise rates.
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