United Kingdom: Inflation remains limp in November
Consumer prices rose 0.2% in November compared to the prior month, contrasting October’s 0.2% decrease. The rise was driven by higher prices for food and clothing.
Inflation was unchanged at 1.5% in November, remaining below the Bank of England’s (BoE) 2.0% target for the fourth straight month but slightly higher than market expectations of 1.4%. Muted inflation is being driven in part by low energy prices following changes to the price cap set by the energy regulator. Core inflation—which excludes food and energy costs—was stable at 1.7%.