UK CPI rises to 3.1% y-o-y in Nov., beats expectations

Haresh Menghani FXStreet

The UK Office for National Statistics (ONS) revealed on Tuesday that consumer prices unexpectedly rose during November, with the headline CPI ticking higher to 3.1% y-o-y.

The print was slight above consensus estimates, pointing to a reading of 3.0%, and remained far from showing any signs of a deceleration in inflationary pressures.

On monthly basis, the UK inflation also edged higher by 0.3% as compared to a 0.1% rise reported in the previous month and slightly above 0.2% expected.

Meanwhile, the core inflation gauge matched consensus estimates and stood at 2.7% y-o-y in November.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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