ANNUAL UK inflation remained significantly above target at 2.7% in December, as hikes in gas and electricity bills prevented it from falling back, official figures show.
And economists predict that inflation could increase in the short term, citing further rises in utility bills and the potential for bad harvests to push up food prices.
Annual consumer prices index (CPI) inflation in December, which compares with a 2% target set for the Bank of England by the Treasury, was unchanged from the rates in October and November and was in line with City forecasts.
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