UK inflation falls again to 10.5% - what it means for your money
“However, this was offset by increases for coach and air fares as well as overnight hotel accommodation.On a monthly basis, inflation rose by 0.4% in December 2022, compared with a rise of 0.5% in December 2021.Rocio Concha, Which? director of policy and advocacy, said: “With households up and down the country struggling to make ends meet, many people will be worried that the cost of everyday essentials continue increasing.
While food and drink inflation soared yet again, to 16.8% in December up from 16.4% in November, marking the highest level since September 1977. “While any fall in inflation is welcome, we have a plan to go further and halve inflation this year, reduce debt and grow the economy – but it is vital that we take the difficult decisions needed and see the plan through.
Alice Haine, personal finance analyst at Bestinvest, said that the fall in inflation "will offer hope" to consumers.
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