The Office for National Statistics (ONS) said falling motor fuel prices led the decline in the core consumer prices index (CPI) measure of inflation.
It reflected falling oil costs and a slight recovery in the value of the pound versus the dollar on which oil costs are pegged.
The ONS reported that the largest upwards contribution to the inflation number last month came from rising prices in restaurants, cafes and pubs.
The CPI rate came in lower than economists had expected.
However….
The cost of living crisis, however, shows little sign of easing up in any substantial way given that household energy bills are running at record levels, despite government support, amid the first cold snap of the 2022/23 winter.
The ONS said energy and food costs remained the main drivers of inflation.
Hooray! I am getting poorer less fast! Thank you Mr Sunak, sir. Thank you so much. You are truly the glorious leader that the UK so desperately needs.
Your sterling work continues to undo the damage cause by *checks notes* the last Conservative government. And the Conservative government before that. And the Conservative government before that. And…
We spent over £20 in utilities yesterday. That kind of figure is going to be unaffordable for most.
Meanwhile the government is failing to negotiate with unions but (mysteriously) can find the money to defend liar and cheat Johnson.
It’s going to take at least a decade for the UK from the gross incompetence and outright misconduct of this Tory government.
As another commenter said: this means becoming poorer fractionally less fast.
I look forward to hearing about all the heroic ways the government is ‘putting money back in the pockets of working people’. I’d also bet a fiver that at least one Tory MP will use that exact phrase.
The Northern European country called United Kingdom known for its monarchs and terrible taste in food today reported a smaller number in inflation. These self reported numbers by the country ruled by oligarchs and the elite are in contrast to the real inflation experienced by the citizens. when approached for comment, some of the elite ruling over the citizens expressed disgust in having to deal with peasants regularly and were happy they could impose severe lifestyle changes on peasants and enrich their friends at the utility companies.
Food prices being up 16.5%, that just doesn’t feel right to me. Happy to be shown otherwise but that would mean a £50 shop being up to £58.25, whereas it is clearly much higher. I can think of many products up by as much as 50-75%, and not enough well below that to level it out to 16.5%.
Doesn’t mean the price of anything will go down anytime soon or at all, the corporate big wigs have had a taste of man flesh and have been found wanting more, seeing as they’ve got away with scalping us for everything why would they lower prices again.
That’s like being grateful you only shit yourself before you left the house instead of in the supermarket.
But what do people want here? Inflation has gone down, albeit fractionally, it’s a good thing. Yes obviously that doesn’t mean things are getting cheaper any time soon but it’s going in the right direction now. Inflation is hardly going to plummet to 2% in a month. Swear this sub would love recurring increases so that the cries of ‘but the gubberment’ can continue
What has actually improved since 2010? These conservatives have overseen a decade plus of massive national decline.
Wow!! Interest rate cut incoming and huge bailouts for mates and cash give aways to people so the next election can be win.
Just for clarification
Does it mean the rate of inflation was 10.7% up from the previous month or does it mean that prices are 10.7% up compared to the measurement made 12 months ago?
Everybody out there working for the government should be demanding at least a 11% payrise – because otherwise you are having your salary reduced.
When has inflation ever been negative people. The BOE aim isn’t get inflation down not to create deflation. Prices will never be back to previous. This is a new norm. We can only hope they don’t rise further. We are all poorer than when we were 12 months ago and we shall only become poorer due to lack of wage rises (can thank the gov and BOE for that too who have actively encouraged private companies to not give wage rises) . Personal allowances being frozen is also huge. Wait until even more cost rises come in April as well. Tories have ruined this country and the boomers don’t care as they have secured their wealth and pensions and this is all they care for.
And now they’ll try say “inflation is coming down, you don’t need a pay rise” completely ignoring the fact that inflation reflects already baked in increases.
I’ve no choice but to keep heating on as I have a 3 month old baby. Should be a fun decade ahead
So how much does that save us? I’m still poor so don’t know what benefit this means for us.
[deleted]
Good thing the government is turbo charging it’s persecution of refugees. It’s not like the whole country is falling apart or anything.
ELI5: what’s the situation like for you average folks over there? Prices exorbitant?
I mean wasn’t this expected? Because there’s a stupid amount of money locked up in the property market and some have been panic selling then that’ll effect the most overinflated item we have right now – housing. And now it’s adding up.
It’s still unaffordable to anyone who isn’t ‘lucky’ enough to have a well off relative die recently. But you know maybe at least some more of the middle class may survive the tories attempt to crush every class but their own under their boot.
Take £100, inflation adds 11.1% which is a nice easy £11.10, now it adds 10.7% which is £11.89, it hasn’t eased in ultimate amounts
It could drop to the usual 1-2% and you’re still screwed because that 10+% is still baked in.
10.7% ain’t good there’s no way to sugar coat it but am sure the government will try. Q
I’ve definitely noticed diesel has gotten cheaper. I can get it for £1.59 at one place. Cheapest was 1.79 a few weeks ago.
BBC pushing fake Tory narratives again. Real inflation is multiples higher than what they claim.
Stop importing Albanians, didnt you hear. They are the latest scapegoat.
Can I double check, does this mean prices were cheaper compared to a year ago last month but doesn’t specifically say whether prices have increased of decreased from last month.
I.e if a basket of goods was £100 in November 2021, £101 in December 2021, £111.10 in November 2022 and £111.80 then technically inflation has reduced from 11.1% in November (I.e prices increased 11.1% from Nov 21 – Nov 22, and prices increased 10.7% from Dec 21 – Dec 22)
So basically it doesn’t mean things are getting cheaper, just that the the increase compared to the same time last year is less than it was last month.
I should add, it COULD mean things are getting cheaper but again it’s all in comparison to last year. If prices remained flat or reduced from Nov 21 – Dec 21 then prices could have decreased from last month in 22, but from what I remember that wasn’t the case, so it’s likely we’ve seen price increases, just not as bad as last month (again, that’s just my understanding. Happy to be told I’m wrong if I’ve just slavered a load of shite.)
28 comments
The Office for National Statistics (ONS) said falling motor fuel prices led the decline in the core consumer prices index (CPI) measure of inflation.
It reflected falling oil costs and a slight recovery in the value of the pound versus the dollar on which oil costs are pegged.
The ONS reported that the largest upwards contribution to the inflation number last month came from rising prices in restaurants, cafes and pubs.
The CPI rate came in lower than economists had expected.
However….
The cost of living crisis, however, shows little sign of easing up in any substantial way given that household energy bills are running at record levels, despite government support, amid the first cold snap of the 2022/23 winter.
The ONS said energy and food costs remained the main drivers of inflation.
Hooray! I am getting poorer less fast! Thank you Mr Sunak, sir. Thank you so much. You are truly the glorious leader that the UK so desperately needs.
Your sterling work continues to undo the damage cause by *checks notes* the last Conservative government. And the Conservative government before that. And the Conservative government before that. And…
We spent over £20 in utilities yesterday. That kind of figure is going to be unaffordable for most.
Meanwhile the government is failing to negotiate with unions but (mysteriously) can find the money to defend liar and cheat Johnson.
It’s going to take at least a decade for the UK from the gross incompetence and outright misconduct of this Tory government.
As another commenter said: this means becoming poorer fractionally less fast.
I look forward to hearing about all the heroic ways the government is ‘putting money back in the pockets of working people’. I’d also bet a fiver that at least one Tory MP will use that exact phrase.
The Northern European country called United Kingdom known for its monarchs and terrible taste in food today reported a smaller number in inflation. These self reported numbers by the country ruled by oligarchs and the elite are in contrast to the real inflation experienced by the citizens. when approached for comment, some of the elite ruling over the citizens expressed disgust in having to deal with peasants regularly and were happy they could impose severe lifestyle changes on peasants and enrich their friends at the utility companies.
Food prices being up 16.5%, that just doesn’t feel right to me. Happy to be shown otherwise but that would mean a £50 shop being up to £58.25, whereas it is clearly much higher. I can think of many products up by as much as 50-75%, and not enough well below that to level it out to 16.5%.
Doesn’t mean the price of anything will go down anytime soon or at all, the corporate big wigs have had a taste of man flesh and have been found wanting more, seeing as they’ve got away with scalping us for everything why would they lower prices again.
That’s like being grateful you only shit yourself before you left the house instead of in the supermarket.
But what do people want here? Inflation has gone down, albeit fractionally, it’s a good thing. Yes obviously that doesn’t mean things are getting cheaper any time soon but it’s going in the right direction now. Inflation is hardly going to plummet to 2% in a month. Swear this sub would love recurring increases so that the cries of ‘but the gubberment’ can continue
What has actually improved since 2010? These conservatives have overseen a decade plus of massive national decline.
Wow!! Interest rate cut incoming and huge bailouts for mates and cash give aways to people so the next election can be win.
Just for clarification
Does it mean the rate of inflation was 10.7% up from the previous month or does it mean that prices are 10.7% up compared to the measurement made 12 months ago?
Everybody out there working for the government should be demanding at least a 11% payrise – because otherwise you are having your salary reduced.
When has inflation ever been negative people. The BOE aim isn’t get inflation down not to create deflation. Prices will never be back to previous. This is a new norm. We can only hope they don’t rise further. We are all poorer than when we were 12 months ago and we shall only become poorer due to lack of wage rises (can thank the gov and BOE for that too who have actively encouraged private companies to not give wage rises) . Personal allowances being frozen is also huge. Wait until even more cost rises come in April as well. Tories have ruined this country and the boomers don’t care as they have secured their wealth and pensions and this is all they care for.
And now they’ll try say “inflation is coming down, you don’t need a pay rise” completely ignoring the fact that inflation reflects already baked in increases.
I’ve no choice but to keep heating on as I have a 3 month old baby. Should be a fun decade ahead
So how much does that save us? I’m still poor so don’t know what benefit this means for us.
[deleted]
Good thing the government is turbo charging it’s persecution of refugees. It’s not like the whole country is falling apart or anything.
ELI5: what’s the situation like for you average folks over there? Prices exorbitant?
I mean wasn’t this expected? Because there’s a stupid amount of money locked up in the property market and some have been panic selling then that’ll effect the most overinflated item we have right now – housing. And now it’s adding up.
It’s still unaffordable to anyone who isn’t ‘lucky’ enough to have a well off relative die recently. But you know maybe at least some more of the middle class may survive the tories attempt to crush every class but their own under their boot.
Take £100, inflation adds 11.1% which is a nice easy £11.10, now it adds 10.7% which is £11.89, it hasn’t eased in ultimate amounts
It could drop to the usual 1-2% and you’re still screwed because that 10+% is still baked in.
10.7% ain’t good there’s no way to sugar coat it but am sure the government will try. Q
I’ve definitely noticed diesel has gotten cheaper. I can get it for £1.59 at one place. Cheapest was 1.79 a few weeks ago.
BBC pushing fake Tory narratives again. Real inflation is multiples higher than what they claim.
Stop importing Albanians, didnt you hear. They are the latest scapegoat.
Can I double check, does this mean prices were cheaper compared to a year ago last month but doesn’t specifically say whether prices have increased of decreased from last month.
I.e if a basket of goods was £100 in November 2021, £101 in December 2021, £111.10 in November 2022 and £111.80 then technically inflation has reduced from 11.1% in November (I.e prices increased 11.1% from Nov 21 – Nov 22, and prices increased 10.7% from Dec 21 – Dec 22)
So basically it doesn’t mean things are getting cheaper, just that the the increase compared to the same time last year is less than it was last month.
I should add, it COULD mean things are getting cheaper but again it’s all in comparison to last year. If prices remained flat or reduced from Nov 21 – Dec 21 then prices could have decreased from last month in 22, but from what I remember that wasn’t the case, so it’s likely we’ve seen price increases, just not as bad as last month (again, that’s just my understanding. Happy to be told I’m wrong if I’ve just slavered a load of shite.)