UK inflation falls below expectations
This marks the lowest inflation level in eight months, as reported by the Office for National Statistics (ONS).
"Food and non-alcoholic beverages, and alcohol and tobacco made the largest downward contributions to the monthly change in both CPIH and CPI annual rates," the ONS said in a statement.
Food and non-alcoholic beverage prices were the biggest drivers of the decline, falling to 4.2% in November from 4.9% in October, particularly for bread and cereals. Prices for items such as cakes, biscuits, and breakfast cereals showed notable reductions this year.
Other categories also slowed, including transportation (3.7% vs. 3.8%), housing and utilities (5.1% vs. 5.2%), alcohol and tobacco (4% vs. 5.9%), and actual housing rents (3.8% vs. 4.1%), reaching their lowest levels since December 2022. Clothing and footwear costs decreased by 0.6% compared with a 0.3% increase previously, mainly due to lower prices for women’s clothing.
Meanwhile, costs for recreation and culture rose by 2.9%, unchanged from October. On a monthly basis, consumer prices fell 0.2% in November, reversing the 0.4% increase recorded in October.
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