UK inflation fell by 0.2 percent in December to 10.5 percent. However, wealth managers warn this modest decrease may not be enough to stave off a recession.

This is the second consecutive slowdown from the 11.1 percent peak in October, demonstrating the UK is following the trend of the eurozone and US – even if the reading is still close to the all-time high figure.

Marcus Brookes, chief investment officer at Quilter Investors, argued that for those “hopi...