UK's annual inflation sharply falls to 3.2% in November, lowest in 8 months
Price increases for food and non-alcoholic beverages, transportation, housing and utilities, alcohol and tobacco see slowdowns in November, contributing to easing in inflation
ISTANBUL
The UK’s annual inflation rate slowed to 3.2% in November, down from 3.6% in October, and coming in below market expectations of 3.5%, official data showed Wednesday.
The rate reached its lowest level in eight months, according to data from 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," ONS said in a statement.
Food and non-alcoholic beverage prices contributed the most to the decline (4.2% in November vs. 4.9% in October), especially bread and cereals, where prices of items including cakes, biscuits, and breakfast cereals decreased this year.
Additionally, prices for 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%) all had significant slowdowns, with the lowest prices since December 2022.
The cost of clothing and footwear decreased (-0.6% vs. 0.3%), primarily for women's clothing.
Meanwhile, recreation and culture costs increased by 2.9%, the same amount as in October.
On a monthly basis, consumer inflation came fell 0.2% in November, reversing the 0.4% increase in October.
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