British inflation falls in December as food costs soar
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Inflation in the United Kingdom fell in December after hitting a four-decade high, however, food and drink prices rose at the fastest rate in the country since the 1970s.
The Office for National Statistics on Wednesday said annual consumer price inflation slowed in December to 10.5% compared to 10.7% the prior month.
Petrol and clothing prices were the two main factors that led to the inflation drop, but the cost of food and beverages continued to rise at an unprecedented level. Prices for foods and drinks such as eggs, milk and cheese rose 16.8% compared to the previous year, according to Reuters.
Moreover, when compared to other countries, Britain's inflation was much higher as the United States had a 6.5% annual rate in December while Germany recorded a 9.6% annual rate.
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