UK inflation hits three-year low
London, UK - British annual inflation slid to the lowest level in more than three years in December, increasing the chances of an interest-rate cut by the Bank of England (BOE) before Brexit.
The Consumer Prices Index 12-month rate dropped to 1.3 per cent last month from 1.5 per cent in November on falls in the prices of hotel rooms and women's clothing, the Office for National Statistics said. At 1.3 per cent, it was the lowest level since November 2016, while analysts' consensus forecast had been for no change. BOE, whose main rate stands at 0.75 per cent, will give its latest decision on British borrowing costs on January 30.