UK inflation rate dropped in December 2022

Industry News | 24/01/23

After inflation hit a 40-year high of 11.1% in October 2022, the economy has now experienced two surprising falls in inflation. Late November, inflation dropped from 11.1% to 10.7%. The latest figures from the Office for National Statistics (ONS) highlight that inflation fell further in December 2022, hitting 10.5%. As has been widely reported, Economists and the Governor of the Bank of England expect further significant deceases over the course of 2023.

Source: ONS