THE UK’s rate of inflation has slowed in a boost for the government – we reveal what it means for your money. The Office for National Statistics (ONS) said the Price Index

Inflation dropped slightly in the month of December but remained above the target set by the Bank of England. The Consumer Price Index (CPI) rose by 2.5% in the 12 months to December 2024, down from 2.6% a month earlier.

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Japan’s yen strengthened on Wednesday (Jan 15) on growing bets on a rate hike at the Bank of Japan’s next meeting, while cooling British inflation offered relief to the pound, but traders were reluctant to buy too much into either ahead of US price data.

Analysis of how softer US and UK inflation readings impact markets, central bank policies and trading opportunities. Get key insights for your trading strategy.

The Bank of England looks set to resume cutting interest rates next month after official data revealed weaker inflation and anaemic economic growth.

South Africa's rand strengthened on Wednesday, ahead of a key U.S. inflation report that could provide clues on the Federal Reserve's interest rate path.

The Bank of Japan is expected to raise interest rates at its January meeting as inflation pressures intensify, setting the stage for significant market reactions.

The rise in the inflation rate means higher product prices and a fall in the purchasing power of money. When general prices rise during inflation, but the value of money stays the same, households can buy fewer goods for the same monetary sum.

The rate is still well above the Bank of England’s target of 2% but could open the door to another interest rate cut next month

The Office for National Statistics said Wednesday that inflation, as measured by the consumer prices index, was 2.5% in ... it remains above the Bank of England's target of 2%.