Brief by Shorts91 Newsdesk / 02:37pm on 15 Jan 2025,Wednesday International
UK inflation dropped to 2.5% in December, below November's 2.6%, with core inflation slowing to 3.2% from 3.5%. The decline reflects easing price pressures on services and goods, according to the Office for National Statistics. Chancellor Rachel Reeves welcomed the data but emphasized the need for further measures to address living costs. Economists predict the Bank of England will cut interest rates from 4.75% to 4.5% in February. Reeves faces fiscal challenges, including balancing tax hikes and spending cuts, as economic growth remains sluggish. The British pound rose 0.1% after the report.
