Annual rate increases to 2.6% in November, driven by rising cost of groceries and hike in tobacco duty in budgetUK inflation has risen to its highest level in eight months, adding to pressure on the Bank of England to keep interest rates unchanged on Thursday despite a slowdown in the British economy.Figures from the Office for National Statistics show the consumer prices index (CPI) rose by 2.6% last month from 2.3% in October, driven by the rising cost of groceries and an increase in tobacco duty in the budget. Continue reading…
Source link : https://www.theguardian.com/business/2024/dec/18/uk-inflation-hits-eight-month-high-adding-to-pressure-to-hold-interest-rates
Author : Richard Partington Economics correspondent
Publish date : 2024-12-18 07:01:00
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UK inflation hits eight-month high, adding to pressure to hold interest rates
