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Inflation at 2.7%

Inflation at 2.7%

Inflation stands at 2.7% in December 2012, official figures reveal.

The Consumer Prices Index remains unchanged for the third month in a row.

The Office for National Statistics said the largest upward pressure came from price hikes in gas and electricity bills.

However air fares rose at a "far slower" rate than a year ago, the body said.

The Retail Price Index stands at 3.1%.

Shadow Treasury Minister said: ""I think it’s worrying that inflation continues to remain high yet prices are rising faster than wages are. My concern is that ministers aren’t doing enough to help families who are really starting to feel that squeeze.

"We’ve got soaring energy prices, you mentioned increasing rail costs, commuting costs yet more households are going to be facing worse to come with cuts to tax credits cut to child benefit and the granny tax, which is on its way, but that’s all at the same time that the Government has chosen to give a tax cut to millionaires, rather than helping these struggling families who are on low and middle incomes.”

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