A major economy blow: GB News interrupted for huge breaking alert – it’s very bad news for Rachel Reeves

GB News interrupted its regular programming as presenters Eamonn Holmes and Ellie Costello delivered a major update on the UK economy in a huge blow for Chancellor Rachel Reeves. Eamonn announced: “Breaking news on inflation this morning, as the UK figures have risen.” He revealed: “They’re up to 3.4% for the month of December, and it marks an increase from 3.2% in November.” Addressing the spike, Ellie added, “It was predicted, and it’s thought that it could be down to more expenses with plane tickets.”

She then turned to her co-host and remarked: “Which you’ve actually been speaking about recently, how expensive plane tickets have got,” before promising further updates to viewers. The Office for National Statistics (ONS) have said the annual inflation rate, as measured by the consumer prices index (CPI), increased from 3.2% in November, after falling in October and flatlining in the previous three months. The figure overshot City economists’ forecasts of a modest rise to 3.3%.

In addition to plane tickets, other factors have been identified as contributing to the higher-than-expected rise in inflation, which is said to be a result of Christmas.

Grant Fitzner, chief economist at the Office for National Statistics, which released the data, says tobacco prices rose following recently introduced excise duty increases.

He added: “Airfares also contributed to the increase, with prices rising more than a year ago, likely because of the timing of return flights over the Christmas and New Year period. Rising food costs, particularly for bread and cereal, were also an upward driver.”

The ONS report notes that tobacco duty increased in the Budget at the end of November, whereas in 2024 it increased in October and says: “This timing difference may help explain why prices fell by 0.1% in November 2025, compared with a rise of 3.3% a year before and then subsequently rose by 3.0% in December 2025, compared with a rise of 0.7% a year before.”

Following the rise in inflation, Reeves has since released a statement and said: “My number one focus is to cut the cost of living.

“At the budget I announced £150 off energy bills, a freeze to rail fares for the first time in 30 years, a freeze to prescription charges for the second year running, and an increase to the national minimum and living wage.

“Money off bills and into the pockets of working people is my choice. There’s more to do, but this is the year that Britain turns a corner,” the politician concluded.

Despite this, the Conservative Shadow Chancellor, Mel Stride, has blamed the rising inflation rate on the government’s “economic mismanagement”.

In a statement, Stride accused the government of making the “wrong choices” and said: “their Budget is unravelling day by day” and “punishing the most vulnerable”.

He added: “A record-high tax burden and irresponsible borrowing are stifling growth and fuelling inflation, leaving working people worse off.”