The UK’s year-on-year inflation rate stood at 10.7% last November, down from 11.1% in October, when it recorded its highest price increase since 1981, the UK Office for National Statistics (ONS) said Wednesday.
The downward correction of the CPI in November is known a day before the meeting to be held this Thursday by the Monetary Policy Committee of the Bank of England, which maintains interest rates at 3% and could announce tomorrow a new increase in the price of money.
In the month of November, the year-on-year rise in the price of food and non-alcoholic beverages accelerated to 16.4%, compared to 16.2% in October, while housing supplies increased their cost by 26.6%, in line with the previous month’s rise. On its side, transportation moderated its year-on-year increase to 7.2% from 8.9% in October.
The underlying CPI, which excludes the volatility of energy, food, alcohol and tobacco prices, stood at 6.3% in November, two tenths of a percentage point lower than the October increase.
In monthly terms, prices recorded an increase of 0.4% in the eleventh month of the year, below the 0.7% rise of the previous month.
