UK Inflation Falls To 14-Year Low In December

IB Times: Economy

(Reuters) - British consumer price inflation plummeted last month to its lowest level since May 2000, further easing a squeeze on consumers and leaving the Bank of England under no pressure to raise interest rates soon.

Reflecting a slide in global oil prices, the rate of consumer price inflation halved to an annual 0.5 percent in December from 1.0 percent in November, the Office for National Statistics said on Tuesday.

Economists taking part in a Reuters poll had expected inflation to fall to 0.7 percent.

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