The path for UK inflation to return to the Bank of England's 2% target is not smooth.

Quilter's Lindsay James stated in a report that the UK's inflation rate increased slightly in December, indicating a bumpy path towards the Bank of England's 2% target. Data shows that the overall inflation rate rose from 3.2% in November to 3.4% in December on a year-on-year basis. The core inflation rate remained steady at 3.2%. "Looking ahead, the overall trend remains encouraging, even though the process of returning to the Bank of England's 2% target is still uneven," James said.