UK Inflation Eases to Eight-Month Low in November
This represents the lowest inflation level in eight months, according to data released by 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," the ONS noted in a statement.
Prices for food and non-alcoholic drinks were the main factor behind the decrease (4.2% in November compared with 4.9% in October), particularly for bread and cereals, including items such as cakes, biscuits, and breakfast cereals, which saw declines this year.
Other categories also experienced noticeable slowdowns. Transportation costs rose by 3.7% (down from 3.8%), housing and utilities by 5.1% (previously 5.2%), alcohol and tobacco by 4% (down from 5.9%), and actual housing rents by 3.8% (previously 4.1%), all marking their lowest increases since December 2022.
Clothing and footwear prices fell by 0.6%, compared with a 0.3% increase previously, largely driven by reductions in women's clothing.
In contrast, expenses for recreation and culture grew by 2.9%, maintaining the same rate as in October.
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