United Kingdom Inflation November 2016

United Kingdom

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.

The Bank of England sees inflation averaging 2.2% in 2017 and 1.4% in 2018. FocusEconomics Consensus Forecast panelists expect inflation to average 2.4% in 2017, which is unchanged from last month’s forecast. For 2018, the panel forecasts that inflation will average 2.5%.

Author:, Economist

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United Kingdom Inflation Chart

United Kingdom Inflation November 2016

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

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