Inflation in the U.K. unexpectedly fell in December, a move that will likely fuel pressure on the Bank of England to cut interest rates again next month and give the U.K. government some breathing room following recent turbulence in financial markets.

India's annual retail inflation in December eased to 5.22% from 5.48% in the previous month as the rate of increase in food prices slowed, government data released on Monday showed.

UK inflation unexpectedly dipped in December for the first time in three months as hotel prices fell and tobacco costs eased. Prices rose 2.5% in the year to December, down from 2.6% the month before,