December 21, 2023
1 min read

UK Inflation Eases to 3.9% in November

On a monthly basis, CPI fell by 0.2 per cent in November 2023, compared with a rise of 0.4 per cent in November 2022, said ONS…reports Asian Lite News

 The UK’s Consumer Prices Index (CPI) rose by 3.9 per cent in the 12 months to November 2023, down from 4.6 per cent in October, official data showed on Wednesday.

This is the lowest inflation rate in more than two years, according to the Office for National Statistics (ONS), but still about double the 2 per cent target set by the central bank, reports Xinhua news agency.

On a monthly basis, CPI fell by 0.2 per cent in November 2023, compared with a rise of 0.4 per cent in November 2022, said ONS.

“The biggest driver for this month’s fall was a decrease in fuel prices after an increase at the same time last year,” said Grant Fitzner, chief economist of the ONS.

Data showed overall motor fuel prices fell by 10.6 per cent in the year to November 2023.

“Food prices also pulled down inflation, as they rose much more slowly than this time last year. There was also a price drop for a range of household goods and the cost of second-hand cars,” Fitzner said.

The annual inflation rate of food and non-alcoholic beverages was 9.2 per cent in November, easing for the eighth consecutive month from a 45-year high of 19.2 per cent in March 2023.

The ONS said the November 2023 rate is the lowest since May 2022.

ALSO READ-Fed Maintains Rates as Inflation Retreats

Previous Story

Vatika Unveils ‘A Tress’Mas Affair’

Next Story

Canada-India Relations Witness Shift Amid US Plot Allegations

Latest from -Top News

Afghan-Pak tensions threaten South Asian stability

The Afghanistan-Pakistan fighting has impacted civilians on both sides, with people fleeing the border areas while daily movement and trade has been disrupted…reports Asian Lite News The recent tensions between Afghanistan and

Fourth AUSTRAHIND exercise begins in Australia

Primary focus of this year’s exercise is “joint company level counter-terrorism operations in urban terrain and semi urban terrain…reports Asian Lite News The fourth edition of the India-Australia joint military exercise, AUSTRAHIND,

Sanae Takaichi makes history in Japan

From 2022 to 2024, Takaichi was Japan’s Economic Security Minister. She also holds the record as the longest-serving Minister for Internal Affairs…reports Asian Lite News Sanae Takaichi was elected Japan’s next Prime

Cabinet of Japan PM Ishiba steps down

After the prime ministerial vote, Takaichi will finalise cabinet appointments, and the chief cabinet secretary is scheduled to announce the lineup….reports Asian Lite News Outgoing Japanese Prime Minister Shigeru Ishiba resigned with
Go toTop

Don't Miss

Russia sanctions UK’s media representatives, defence figures

Ukrainian President Volodymyr Zelensky has called on the European Union

India, UK joint wargames important, says top Royal Navy officer

The American Marine Corps F-35s are permanent part of the