ICYMI: 🇬🇧UK December CPI Hits 5.4% Y/Y

• December headline prices accelerated to 5.4% Y/Y, up from the previous and market consensus of 5.2%, M/M rate expanded by 0.5%. The core figure also topped estimates printing at 4.2% Y/Y. CPIH printed at 4.8% Y/Y, up from 4.6%.

• The ONS reported that the CPI December print came at the highest in the National Statistics series, which began in 1997. Also, the largest contributions were seen in transport, food, household goods, and housing svcs