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News
Inflation dips
Inflation dipped slightly in December 2024. Retail Prices Index (RPI) inflation was 3.5% in December 2024, down from 3.6%. The Consumer Prices Index (CPI) rate was 2.5%, down from 2.6%.
Hotel and restaurant prices brought the average down. But it is expected that inflation will accelerate again in the coming months.
The drop in inflation makes it more likely that the Bank of England will cut the interest rate to 4.5% in February.