UK Inflation Screams Higher, Breaking All Sorts Of Records

CPI in the UK surged to 3.7% annually in December, a significant jump over November’s 3.4% mark.

Consensus was for 3.3%, year-over-year rise in the CPI.

That headline number is the only the beginning of a list of record breaking rises.

  • Month-over-month increase of 1% in CPI, the highest for the November to December time frame
  • The largest monthly increase in transport costs (including fuel) on record
  • The largest November to December increase ever for household costs
  • The largest November to December increase ever for food costs

Just take a look at the contribution of food and transport costs to CPI. Does this story sound familiar?

Food and fuel costs are surging worldwide. You can see it in the U.S., India, China, and in emerging markets.


Photo: UK National Statistics

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