British official inflation steady at 2.7% in December

15th January 2013, Comments 0 comments

British inflation over 12 months stood at 2.7 percent in December for a third month in a row, official data showed on Tuesday.

"The Consumer Prices Index (CPI) annual inflation stands at 2.7 percent in December 2012, unchanged for the third month," the Office for National Statistics (ONS) said in a statement.

"The largest upward pressure came from the price increases in gas and electricity bills. Air fares provided the largest downward pressure, with prices rising at a far slower rate than a year ago," it added.

The Bank of England's government-set target rate for annual inflation stands at 2.0 percent.

The CPI meanwhile advanced by 0.5 percent in December on a month-on-month basis, the ONS added. Both the monthly and annual data were in-line with analyst consensus forecasts.

© 2013 AFP

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