UK Inflation Accelerates to 5.1% in November

Source: Office for National Statistics

Inflation in the United Kingdom continued to accelerate in November to mark a three-month high, driven mainly by higher transport costs during the period. EWU is down 0.58%.

• The Consumer Price Index stood at 114.5, up by 5.1% from the previous year. This is the second month of acceleration following October’s 4.2%.
• The monthly inflation increased by 0.7% in November, compared with a 0.1% decline a year ago and slower than the 1.1% in October.
• The Consumer Price Index, including owner occupiers’ housing costs, grew to 114.1%, to mark a 4.6% growth, faster than the 4.8% the previous month.
• Major drivers to the change were broad-based, with the largest contributions coming from transport, and clothing, and footwear.
• The higher prices were partially offset by a steep decline in the prices of restaurants and hotels.