December's unexpected 4.0% increase in UK inflation was mostly caused by higher alcohol and tobacco prices.

UK inflation unexpectedly rose to 4.0% in December due to increased costs of tobacco and alcohol. This marks the first increase in a year. Food inflation fell, although prices still rose at a lower rate than the previous year. UK Chancellor Jeremy Hunt believes their plan is working, while Labour's shadow chancellor, Rachel Reeves, highlights rising prices in shops and the average family being £1,200 worse off under Rishi Sunak's tax plan.

January 17, 2024
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