UK inflation accelerated more than expected in December on airfares and tobacco prices but it is expected to slow to the 2 percent target as the impact of utility price hikes drop out of annual comparisons.
The consumer price index posted an annual growth of 3.4 percent in December after rising 3.2 percent in November, the Office for National Statistics said Wednesday. Inflation was expected to climb to 3.3 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.