UK inflation out of control - biggest monthly rises on record !

UK inflation rose at its fastest annual pace for nine months in December.

The Office for National Statistics said the Consumer Price Index (CPI) measure of inflation had risen to 2.9%, up from an annual rate of 1.9% in November.

That was the biggest jump in the annual rate from one month to the next since records began, and exceeded the City's expectations of an increase to 2.6%.

The Retail Price Index (RPI), which includes housing costs, rose to 2.4%, its highest level since November 2008.

This was a rise from 0.3% in November, and also constitutes the biggest monthly rise in the annual rate of RPI inflation since 1979.

http://news.bbc.co.uk/1/hi/business/8467305.stm

http://www.telegraph.co.uk/finance/economics/interestrates/7025857/Bank-of-Englands--nerves-to-be-tested-as-inflation-jumps-most-on-record.html


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