UK inflation

Economists have cautioned against lowering interest rates before May and only doing so gradually thereafter.

The rise of the Consumer Prices Index to 4 percent in December comes after an unexpected drop to 3.9 percent the month before.

Jeremy Hunt was asked to rate the causes for the inflationary crisis, which included the war in Ukraine and money printing during the pandemic.

The inflation easing came unexpectedly for some financial experts, who predicted a 7.1 percent rise in August, due to a recent increase in oil prices.