UK inflation holds steady at 2.7%

“UK consumer prices inflation held steady at 2.7% in December, official figures have shown. A rise in electricity and gas prices was offset somewhat by a fall in fuel costs and air transport, the Office for National Statistics (ONS) said. The CPI rate of inflation has been above the Bank of England’s 2% target since November 2009. Retail prices index (RPI) inflation, which includes housing costs, edged up to 3.1% last month from 3% in November. The figures were broadly in line with analysts’ expectations. It was the third month in a row that the CPI rate has come in at 2.7%..”

Read more..