UK inflation sags to more than three-year low, raising pressure on Bank of England
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LONDON, Jan 15 (Reuters) - British inflation sank unexpectedly to a more than three-year low in December as hotels slashed prices, according to figures that are likely to fuel expectations that the Bank of England will cut interest rates. Consumer prices rose at an annual rate of 1.3% compared with 1.5% in November, marking the smallest increase since November 2016, the Office for National Statistics said. That was below all forecasts in a Reuters poll of economists that had pointed to another..