UK inflation rises to 2.6% in November, further above Bank of England target – business live
Inflation hits eight-month high; US Federal Reserve widely expected to cut interest rates by a quarter point
The biggest factor pushing inflation higher was transport, the ONS said.
Overall prices in transport fell by 1.1% in the year to November, compared with a drop of 2.0% in the year to October. On a monthly basis, prices fell by 0.8% in November compared with a fall of 1.7% a year ago.
I know families are still struggling with the cost of living and today’s figures are a reminder that for too long the economy has not worked for working people.
I am fighting to put more money in the pockets of working people. That’s why at the Budget we protected their payslips with no rise in their national insurance, income tax or VAT, boosted the national living wage by £1,400 and froze fuel duty. Continue reading...
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