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UK inflation holds at 2.7%

The consumer prices index has remained unchanged at 2.7 per cent in November, according to figures from the Office for National Statistics.

London UK Britain Flags Street 480

The ONS says that CPI remained unchanged despite a number of upward and downward pressures between October and November. The largest upward pressures to annual inflation came from food & non-alcoholic beverages and housing & household services. The largest downward pressures came from motor fuels and furniture, household equipment & maintenance.

Despite CPI being unchanged, RPI fell slightly from 3.2 per cent in October to 3 per cent in November. The largest downward pressures behind the change in the RPI rate came from motoring expenditure, housing and household goods. These were partially offset by an upward pressure from food.

CPI fell to 2.2 per cent in September, its lowest point since November 2009, before rising to 2.7 per cent in October.

Inflation is expected to rise slightly next year as increases in electricity and gas prices take effect.

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