China News Service, Beijing, January 19th, London News: According to the data released by the British National Bureau of Statistics on the 18th, the British Consumer Price Index (CPI) in December 2022 rose by 10.5% year-on-year, and the increase has shrunk for two consecutive months. Beverage prices rose the most since September 1977.
Data showed that UK inflation eased after hitting a near 41-year high in October 2022, with CPI rising 10.5% year-on-year in December, down from 10.7% in November and 11.1% in October.
The decrease in CPI growth in December was mainly due to the decline in the prices of fuel, clothing, footwear, cultural entertainment, etc., but the price of food and beverages rose by 16.9% year-on-year, rising for 17 consecutive months, and the increase reached the largest increase since September 1977.
Among them, milk, cheese and eggs had the highest increase.
British families are still under enormous pressure.
British Chancellor of the Exchequer Jeremy Hunt said after the data that high inflation was a "household budget nightmare" that would hurt business investment and lead to strike action.
"Stay with our plan to bring it down (inflation), no matter how hard it gets," he said.
The Bank of England predicted in November 2022 that as energy prices stabilize, UK CPI growth will gradually slow down to around 5% by the end of 2023.
Reuters reported that Britain's economy faces a contraction this year as inflation squeezes room for disposable income, with the Bank of England forecasting a rise in unemployment.
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