According to a report by the National Statistical Office of the United Kingdom, consumer prices in the country in November increased by the lowest 3.9% in annual terms since September 2021. This figure has decreased compared to October, when inflation was 4.6%. Analysts expected higher price growth rates and predicted 4.4%. It is important to note that in November, consumer prices in the UK decreased by 0.2% compared to the previous month, while in October they remained unchanged. If we consider prices excluding food, alcohol, tobacco and energy (core inflation, CPI Core index), then in November they increased by 5.1% y/y after an increase of 5.7% in October. On a monthly basis, core inflation decreased by 0.3% after rising by the same amount a month earlier. The retail price index (RPI) rose 5.3% y/y in November, which was lower than in October, when it was 6.1%. The RPI index is used by British employers in salary negotiations and takes into account housing costs, as well as various factors such as rent, insurance and gasoline prices. On a monthly basis, the RPI index fell by 0.1% after a 0.2% decline in October.
