UK Annual Inflation Jumps 5.1% in November Despite Falls in Producer Prices

UK Annual Inflation Jumps 5.1% in November Despite Falls in Producer Prices

(ONS) Consumer prices in the United Kingdom increased by 5.1% in the year to November 2021, surpassing 4.1% posted the previous month.

Annual CPIH inflation rate highest since September 2008

Including owner occupiers’ housing costs, consumer prices increased by 4.6% in November from the prior year, compared to a jump of 3.8% in the 12 months that ended October.

Transport contributed to the largest increase in consumer prices in November by 1.34 percentage points. Housing and household services led to a 1.28 percentage points increase.

On a month over month basis, CPIH rose by 0.6%, compared to a decline of 0.1% the previous year. The CPI was up 0.7%, after a fall of 0.1% in November 2020.

The rise in CPI happens even as the producer process fell to 0.9% in November, compared to 1.5% in October. 

In the year to November, output prices were still up 9.1%, compared to 8.6% in the year to October 2021.

FTSE 100 is down -0.34%, GBPUSD is up +0.26%.

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