Inflation remains stable in November

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Consumer prices inflation (CPI) remained unchanged in November at 2.7%, while the retail prices index (RPI) fell to 3%

Office data released today shows the fastest price rises were seen in the cost of fruit, bread and cereals, as well as in energy prices.

The Office for National Statistics (ONS) said that RPI fell 0.2% on the previous month,

Many economists now expect CPI to keep growing next year due to increases in electricity and gas prices take effect.

CPI inflation has been above the Bank's 2% target for more than three years and until May this year had exceeded 3% for 29 consecutive months.

The Bank now expects inflation to fall back to its target only in the autumn of 2014.

 

Helen Roxburgh

 

 

 

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