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January 15, 2025UK CONSUMER PRICE INDEX, DECEMBER AND ANNUAL 2024 
UK Consumer Price Index including owner-occupiers' housing costs (CPIH) increased 3.5% year-over-year in December 2024, this was unchanged from 3.5% year-over-year in November. The UK CPI index was down to 2.5% year-over-year in December, slowing from 2.6% in November. The owner occupiers' housing costs component accounts for 16% of the CPIH. It is the main driver for differences between the CPIH and CPI inflation rates. The largest downward contributions came from restaurants and hotels and the largest upward contribution came from transport.
ANNUAL 2024
In 2024, average annual UK inflation including owner-occupied housing (UK-CPIH) was 3.3% while inflation excluding owner-occupied housing costs (UK-CPI) averaged 2.5%. This is a decline from last year's 6.8% CPIH and 7.3% CPI.
Note: Statistics Canada will release their annual CPI numbers January 21, 2025
Sources: United Kingdom Office for National Statistics Statistical bulletin
Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted
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