Adding pressure on the Bank of England to hike its interest rate at the February meeting, UK consumer price inflation accelerated at the fastest pace in nearly 30 years in December, driven by higher food, drinks and restaurant costs.
Consumer price inflation rose to 5.4 percent in December from 5.1 percent in November, the Office for National Statistics said Wednesday. The rate was forecast to climb marginally to 5.2 percent.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.