The U.K.’s annual rate of inflation fell for a second straight month in December, the latest sign that the global surge in consumer prices that began in early 2021 is slowing.
Consumer prices in the U.K. were 10.5% higher than a year earlier, a slower rate of inflation than the 10.7% recorded in November as gasoline prices cooled, the Office for National Statistics said Wednesday. The core rate of inflation was unchanged at 6.3%, while prices of food and beverages rose at the fastest pace since September 1977.
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