Tags: EU | Britain | Inflation

UK Inflation at 2-year High as Fuel and Clothing Costs Rise

Tuesday, 13 December 2016 06:05 AM EST

LONDON (AP) — Official figures show that inflation in the U.K. jumped to a 2-year high of 1.2 percent in the year to November in the wake of higher clothing and fuel costs.

The scale of the increase from the previous month's 0.9 percent was unexpected. Economists had penciled in a more modest rise to 1.1 percent.

Though a slight rally in the pound in November slightly subdued import prices, the Office for National Statistics said Tuesday that price pressures from the lower currency are building.

The pound fell to 31-year lows in the months after Britain voted to leave the European Union in June — the lower pound makes imports more expensive and lies at the heart of expectations in the markets that inflation is heading higher over the months ahead.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
Official figures show that inflation in the U.K. jumped to a 2-year high of 1.2 percent in the year to November in the wake of higher clothing and fuel costs.The scale of the increase from the previous month's 0.9 percent was unexpected. Economists had penciled in a more...
EU,Britain,Inflation
130
2016-05-13
Tuesday, 13 December 2016 06:05 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved