Record Inflation Driven by Housing and Transport Costs
- Inflation reaches a 30-year high of 5.4% in December 2021
- Largest upward contributions to CPIH inflation rate came from housing and transport
- Highest rate since May 1992
Inflation reached a 30-year high of 5.4% in December 2021, according to the latest figures from the Office for National Statistics (ONS). The largest upward contributions to the Consumer Prices Index including Housing (CPIH) 12-month inflation rate came from housing and household services and transport. This marks the highest rate since May 1992 when it stood at 5.1%. The increase in costs has been attributed to various factors, including supply chain disruptions and rising energy prices.
Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about inflation rates based on data from a reliable source (the Office for National Statistics). It is concise and does not contain any digressions or irrelevant details. The language used is objective and there is no indication of personal perspective being presented as fact.
Noise Level: 3
Noise Justification: The article provides a factual piece of information about inflation rate but lacks analysis or context, and does not offer any actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: Inflation rates can impact bond and stock markets as well as central bank policies.
Financial Rating Justification: Inflation is a key financial topic, and its impact on markets is due to its influence on interest rates and economic growth.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
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