• İstanbul 4 °C
  • Ankara -3 °C

UK inflation climbs 5.1% in November, reaching 10-year high

UK inflation climbs 5.1% in November, reaching 10-year high
Average petrol prices highest on record

By Ovunc Kutlu

ANKARA (AA) - The UK’s annual inflation increased 5.1% in November, its highest level since September 2011, the Office for National Statistics (ONS) said Wednesday.

While market expectation for Consumer Prices Index (CPI) was to have an annual increase of 4.7%, the figure in October stood at 4.2%.

CPI increased 0.7% from the previous month.

Average petrol prices stood at their highest on record, according to the ONS.

The latest inflation data comes one day before the Bank of England's (BoE) critical meeting, as it could increase interest rates to tame high prices.

But BoE may keep rates unchanged since the quickly spreading omicron variant of the coronavirus in the UK is threatening economic recovery.

The bank forecasts inflation to hit 5% in the second quarter of 2022, before moderating to its 2% target range in late 2023.




source: News Feed
This news is a total 24 time has been read
UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
This news yet comment has been added .
Other News
All Rights Reserved © May 2014 US Muslims | Unauthorized and the resources published.
Haber Scripti: CM Bilişim