New data show Britain's economy posted zero growth in the October-to-December period of 2022.

The Office for National Statistics said on Friday that the gross domestic product in the final quarter of last year grew zero percent from the previous three months.

The figure translates into an annual expansion of 0.1 percent.

The zero growth can be attributed to Britain's monthly consumer price index at over 10 percent and sluggish personal spending due to price hikes. The country could avoid a second consecutive quarter of contraction.

Separate data show the gross domestic product in 2022 grew 4 percent from a year earlier. The figure marked the second straight year of expansion.

The Bank of England has raised interest rates 10 times in a row since December of 2021 to fight inflation. But rising prices make the country's economic outlook uncertain.

Chancellor of the Exchequer Jeremy Hunt said there is underlying resilience in the UK economy, but the country is not out of the woods -- inflation is still much too high.