UK CPI YoY (Dec) Y/Y 3.4% vs. Exp. 3.3% (Prev. 3.2%); All Services 4.5% (prev. 4.4%)

ONS

• "Inflation ticked up a little in December, driven partly by higher tobacco prices, following recently introduced excise duty increases."
• "Airfares also contributed to the increase with prices rising more than a year ago, likely because of the timing of return flights over the Christmas and New Year period."
• "... partially offset by a fall in rents inflation and lower prices for a range of recreational and cultural purchases."