UK inflation dips for first time since June
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Official figures show consumer price inflation in Britain dipping for the first time since June partly because of a fall in the price of games and toys in the run-up to Christmas.
The Office for National Statistics said Tuesday that the annual inflation rate fell to 3 percent in December from 3.1 percent the previous month.
Inflation in Britain spiked sharply higher after the country voted to leave the European Union in June 2016, a decision that saw the pound tank. That stoked inflation by raising the cost of imported goods such as food and oil.
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However, with the impact of the pound's drop falling out of the annual data, many economists expect a steady decline in inflation this year toward the Bank of England's target of 2 percent.