In December, U.K. inflation remained unchanged at above 10% amid indications that consumers continued to spend during the holiday season despite rising cost of living pressures.

According to the Office of National Statistics, the consumer price index increased 0.4% month over month.

The numbers may have been inflated by a decrease in fuel prices. But there were indications that underlying inflation pressures were still very high, after increasing by 0.3% in Nov,

Food prices continue to rise

Prices for food & non alcoholic beverages increased by 16.9% in the year ending in Dec, increased from 16.5% in Nov, according to the ONS

According to Resolution Foundation experts. The inflation rate for poor 10% of families was 11.9%, comparing to 9.2% for the wealthiest 10%.

The statistics make it more difficult for Bank of England to slow the speed of its interest rate hikes as many had predicted, especially when combined with Tuesday’s strong labour market data