United Kingdom: Inflation picks up pace in November
December 13, 2016
Consumer prices in the UK increased 0.2% from the previous month in November, slightly above the 0.1% figure recorded in October. November’s increase reflected higher prices for food and non-alcoholic beverages, clothing and footwear and household equipment, while the price of transport and alcohol and tobacco fell compared to the prior month.
Inflation was 1.2% in November, up from October’s 0.9% figure and marking the highest rate in over two years. The reading came in above the 1.1% expected by the markets. Annual average inflation remained constant at 0.5% in November.
Author: Oliver Reynolds, Economist