The Consumer Prices Index (CPI) increased by 5.4% year over year and by 0.5% on a monthly basis in December 2021, the United Kingdom's Office for National Statistics reported on Wednesday. The 12-month inflation rate in December has hit the highest point since March 1992, according to the historical modeled data.
In the previous month, the annual inflation rate stood at 5.1%.
The Consumer Prices Index including owner occupiers' housing costs (CPIH) in December was up 4.8% annually and 0.5% compared to the previous month.
