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16 Dec 2014
UK CPI falls to 12-year low in November
FXStreet (Mumbai) - The data released by the UK Office for National Statistics (ONS) today showed the inflation faced by households cooled down to a 12-year low.
The CPI increased 1% year-on-year in November, missing the median estimate of 1.2%, down from 1.3% in October. The slowdown in inflation was mainly driven by fall in transport costs and in the prices of alcohol and certain recreational and cultural goods. Petrol prices fell by 3.0 pence per litre on the month this year compared with a more modest 1.7 pence fall a year ago.
Meanwhile, food prices have fallen by 1.7% over the last year and motor fuels by 5.9% in November 2014. Falling food and motor fuel prices have pulled headline inflation down by 0.4% points in total.
The CPI increased 1% year-on-year in November, missing the median estimate of 1.2%, down from 1.3% in October. The slowdown in inflation was mainly driven by fall in transport costs and in the prices of alcohol and certain recreational and cultural goods. Petrol prices fell by 3.0 pence per litre on the month this year compared with a more modest 1.7 pence fall a year ago.
Meanwhile, food prices have fallen by 1.7% over the last year and motor fuels by 5.9% in November 2014. Falling food and motor fuel prices have pulled headline inflation down by 0.4% points in total.