Investing.com - Consumer price inflation in the U.K. slowed to the lowest level since November 2009 last month, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said the rate of consumer price accelerated at a seasonally adjusted 2% last month, down from 2.1% in November. Analysts had expected consumer price inflation to hold steady at 2.1% last month.
Month-over-month, consumer price inflation increased by 0.4% in December, below expectations for a 0.5% rise.
Core CPI, which excludes food, energy, alcohol, and tobacco costs rose by a seasonally adjusted 1.7% in December, down from 1.8% in November.
The retail price index increased 2.7% last month, up from 2.6% in November and in line with expectations.
The data also showed that the house prices index climbed 5.4% in November, below expectations for a 5.9% gain and slowing from a 5.5% increase in October.
Following the release of that data, the pound trimmed gains against the U.S. dollar, with GBP/USD rising 0.15% to trade at 1.6408, compared to 1.6439 ahead of the data.
Meanwhile, European stock markets remained lower. London’s FTSE 100 fell 0.55%, the EURO STOXX 50 dipped 0.55%, France’s CAC 40 dropped 0.45%, while Germany's DAX slumped 0.65%.