UK inflation rises to 2.9%
Consumer price index in record monthly increase
Data released this morning from the Office for National Statistics shows the consumer price index for inflation in the UK jumped from 1.9% to 2.9% in December.
The figure is just below the Bank of England's upper limit of its target range. The largest upward contribution to the increase came from transport costs, which rose by 8.7% year-on-year in December.
According to the Centre for Economics and Business Research the largest ever increase in the annual rate of inflation between two months
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