United Kingdom Inflation November 2021

United Kingdom

United Kingdom: Inflation increases in November to over-decade high

December 15, 2021

Consumer prices increased 0.74% from the previous month in November, coming in below the 1.09% increase recorded in October. Looking at the details of the release, prices for recreation and culture rose in November and prices for transportation also rose. In addition, prices for restaurants and hotels dropped.

Inflation rose to 5.1% in November, above October’s 4.2%. November's result represented the highest inflation rate since September 2011, and was well above the Bank of England’s 2.0% target. The reading was also notably above market expectations of 4.7%. A combination of Brexit-related and international supply-side pressures and high energy prices have spurred inflation in recent months. Annual average inflation rose to 2.2% in November (October: 1.8%). Finally, core inflation rose to 4.0% in November, from the previous month's 3.4%.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.2% in 2022, up 0.3 percentage points from last month’s forecast, and 2.1% in 2023.


Author:

Sample Report

Looking for forecasts related to Inflation in United Kingdom? Download a sample report now.

Download

United Kingdom Inflation Chart


United Kingdom Inflation November 2021

Note: Annual and monthly variation of consumer price index in %.
Source: Office for National Statistics (ONS) and FocusEconomics calculations.


United Kingdom Economic News

More news

Search form