Is it the end of deflation? Consumer price inflation rose at its fastest annual pace in nine months in December as a cut in value added sales tax, heavy discounting and a sharp fall in oil prices at the end of 2008 were not repeated in 2009, official data showed today.
The Office for National Statistics said consumer prices rose 0.6 percent last month, taking the annual rate up to 2.9 percent from 1.9 percent in November. That was the biggest monthly rise in the annual index since records began and exceeded analysts' expectations for an increase to 2.6 percent.
The ONS reported inflation as measured by the Consumer Price Index (CPI) now above the Bank of England's 2% target.
There are different ways of measuring inflation. The government prefers the Consumer Price Index, which also includes services, housing, electricity, food, and transportation, but the Retail Price Index covers more items. We've include both here – just click on the links on the spreadsheet.
Our friends at Timetric produced the above chart and have a host of other ways of viewing the data too. What can you do?
Download the dataDATA: UK inflation since the 1940s – CPI and RPIINTERACTIVE: how we visualised the data
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