22 January 2026 UK Monitor Inflation will fall to 2.1% in July, before rising to 2.8% in December
20th Jan 2026 11:08UKDaily Monitor
- Tobacco duty and a jump in airfares drove up CPI inflation to 3.4% in December, a touch above our call.
- We note a few obvious erratic factors, with a January airfares correction likely balanced by solid hotel prices.
- Inflation gives rate-setters little reason to rush to cut next month, but we see a final rate reduction in April.
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