The UK’s rate of inflation measured by the Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.0% in December 2018, down from 2.2% in November 2018.

According to the ONS,The largest downward contributions to change in the 12-month rate came from falls in petrol prices and from air fares, where ticket prices rose between November and December 2018, but by less than a year ago.

The downward effects were offset by upward contributions from a variety of categories including accommodation services, and, to a lesser extent, mobile phone charges, games, toys and hobbies, and food.

The head of inflation at the ONS, Mike Hardie, said: “Inflation eased mainly due to a big fall in petrol, with oil prices tumbling in recent months.

“Air fares also helped push down the rate, with seasonal prices rising less than they did last year. These were partially offset by small rises in hotel prices and mobile phone charges.

“House price growth was little changed in the year to November, with buoyant growth across much of the UK held back by London and the South East.”


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