consumer prices index rose by 2.5% in the 12 months to december last year, according to the office for national statistics that's down from 2.6% the previous month. restaurants and hotels helped keep the rate down, with transport pushing prices higher. despite a slight fall, the rate is still above the bank of england's target of 2%. the base rate of interest in the uk currently stands at 4.75%, but expectations for a rate cut next month have grown following today's unexpected fall in inflation. the latest figures come after pressure has increased on the public finances in recent days due to government borrowing costs hitting their highest level for several years. let's speak now to ellie henderson, uk economist at investec. talk to me about this number today. it isjust talk to me about this number today. it is just one number, talk to me about this number today. it isjust one number, a snapshot of what has gone on in the past, but what does it tell us about the state of the economy right now? today's data was certainly _ economy right now? today's data was certainly encouraging. - economy right now? toda

consumer prices index rose by 2.5% in the 12 months to december last year, according to the office for national statisticshat's down from 2.6% the previous month. the fact that it is now going down rather than going up is a relief for many. restaurants and hotels helped keep the rate down, with transport pushing prices higher. despite a slight fall, the rate is still above the bank of england's target of 2%. the base rate of interest in the uk currently stands at 4.75% and some analysts expect a more cautious approach to rate cutting this year with inflation remaining high. the bank of england's next decision will be early in february. the latest figures come after pressure has increased on the public finances in recent days due to government borrowing costs hitting their highest level for several years. simon french is chief economist and head of research at panmure liberum. hejoins us now. simon, do you think there will be an audible sigh of relief coming from the corridors in the treasury and the bank of england that this rate has not gone higher? you could almost hear that sigh of relief from a mile a

down from 2.6% from november, and that's from 2.6% from november, and that's from the office for national statisticss i say tadhg will be back here in about 25 minutes' time. another breaking story from ukraine. ukraine introduced emergency power cuts in six regions amid what authorities described as a "massive" russian missile strike, the national grid operator has said. there are few details at present but ukraine's air force warned of russian bomber planes in the sky around 4am local time followed by the launch of multiple "guided aerial bombs". we will continue to monitor that here at the bbc, the ongoing situation in ukraine. south korea's impeached president, yoon suk yeol has been arrested over his failed attempt to impose martial law last month. it's the first time in the country's history that a sitting president has been detained. in a pre—recorded statement before his arrest, mr yoon said he was handing himself in to avoid any bloodshed. anti—corruption investigators forced their way into the presidential compound this morning. it was their second attempt to arrest yoon after they were pr