that s the highest it s been since 1977. those cheaper fuel prices aren t yet feeding through to the prices of other goods which are still rising by more than 13%. so they are expecting inflation averaging overall 7.4% for the coming year, partly because those fuel prices came down by 8% in december alone, but we should remember inflation is a year on year comparison, so after the big spike in fuel prices which was last february on the invasion of ukraine, there was a big striking difference betweenjanuary then and january now. as you move on past that spike a year ago the difference is smaller and that s why inflation is likely to come down in a year or two, coming down to zero or even deflation. but it won t be enough to make up for the big rise in the cost of living of the past two years. andy verity, there. rishi sunak has told mps that the crimes committed by serial rapist david carrick were a truly sickening abuse of power the prime minister promised police reforms so that of
inflation fell to 10.5 percent last month, down from 10 point 7 percent in november. the drop was partly due to annual fuel prices dropping back sharply in december, to 11.5 percent. that s down from more than 17 percent the previous month. but that was offset by rocketing prices in hospitality, as restaurants and hotels were forced to pass on their own surging costs. inflation in the sector at 11.3% is the highest for three decades. households and businesses are also still facing eye watering food price inflation, which hit another as year high, at 16.8% in december. inflation last month was still five times the bank of england s 2% target. while most economists now believe the peak in uk inflation has passed, the chancellorjeremy hunt says the government needs to stick to its plan to bring it down further. there is still a long way to go in the battle against inflation. any country anywhere in the world with inflation over 10% is seeing it at, frankly, dangerous levels for stabil
the drop was partly due to annual fuel prices dropping back sharply in december, along with the price of clothes and footwear. that is down from i7% last month. but that was offset by rocketing prices in hospitality, as restaurants and hotels were forced to pass on their own surging costs. inflation in the sector at 11.3% is the highest for three decades. households and businesses are also still facing eye watering food price inflation, which hit another as year high at 16.8% in december. inflation last month was still five times the bank of england s 2% target. while most economists now believe the peak in uk inflation has passed, the chancellorjeremy hunt says the government needs to stick to its plan to bring it down further. there is still a long way to go in the battle against inflation. any country anywhere in the world with inflation over 10% is seeing it at, frankly, dangerous levels for stability of an economy.
food price inflation at 16.8%. that s the highest it s been since 1977. those cheaper fuel prices aren t yet feeding through to the prices of other goods which are still rising by more than 13%. so they are expecting inflation averaging overall 7.4% for the coming year, partly because those fuel prices came down by 8% in december alone, but we should remember inflation is a year on year comparison, so after the big spike in fuel prices which was last february on the invasion of ukraine, there was a big striking difference between january then and january now. as you move on past that spike a year ago, the difference is smaller and that s why inflation is likely to come down. in a year or two, coming down to zero or even deflation. but it won t be enough to make up for the big rise in the cost of living of the past two years. andy verity, there. police have given new information about the search for a couple
our economics correspondent andy verity had more. it will drop back into single digits from double digits now somewhere in the middle of this year, going on to drop further down to about li 6% by the end of this year, but we should remember that right now we are going through one of the hardest squeezes on living standards in more than four decades. food price inflation at 16.8%. that s the highest it s been since 1977. those cheaper fuel prices aren t yet feeding through to the prices of other goods, which are still rising by more than 13%. so they are expecting inflation averaging overall 7.4% for the coming year, partly because those fuel prices came down by 8% in december alone, but we should remember inflation is a year on year comparison, so after the big spike in fuel prices, which was last february on the invasion of ukraine, there was a big striking difference between january then and january now. as you move on past