By Joshua Kirby
Inflation cooled a little in the U.K. at the end of the year, adding to the likelihood the Bank of England will move to cut interest rates against a difficult economic backdrop.
Consumer prices were 2.5% higher in December than a year earlier, down from 2.6% in November, figures from the Office for National Statistics showed Wednesday. Economists had expected annual inflation to stay unchanged, according to a poll compiled by The Wall Street Journal. Inflation nevertheless remains above the Bank of England's 2% target ahead of the central bank's next policy meeting early in February.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
01-15-25 0221ET