The UK’s Consumer Price Index rose 20 basis points above expectations to 5.4% in the 12 months to December 2021, according to the Office for National Statistics, reaching its highest level since March 1992.
The largest contributors to the 12-month uptick came from housing and household services, and transport, which rose by 1.31 and 1.29 percentage points respectively. On a monthly basis, CPI rose by 0.5% between November and December, compared to a monthly rise of 0.3% in December's data. Fund managers bank on global reopening in bullish outlook beyond Covid Alan Custis, managing director and UK equity portfolio manager at Lazard Asset Management, said the view that the current high readings are transitory "is starting to sound a bit hollow". "With the employment data from yesterd...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
