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| UK inflation rate rises to 0.1% in November | UK inflation rate rises to 0.1% in November |
| (35 minutes later) | |
| The UK's inflation rate as measured by the Consumer Prices Index rose to 0.1% in November, the Office for National Statistics has said. | The UK's inflation rate as measured by the Consumer Prices Index rose to 0.1% in November, the Office for National Statistics has said. |
| That compares with a rate of -0.1% a month earlier. Analysts had expected a figure of about zero. | That compares with a rate of -0.1% a month earlier. Analysts had expected a figure of about zero. |
| Transport costs, alcohol and tobacco prices were the main contributors to the rise in the rate, said the ONS. | Transport costs, alcohol and tobacco prices were the main contributors to the rise in the rate, said the ONS. |
| However, this was partially offset by a fall in clothing prices, the ONS added. | However, this was partially offset by a fall in clothing prices, the ONS added. |
| Last week, UK interest rates were left unchanged again at 0.5% by the Bank of England's rate-setters. | Last week, UK interest rates were left unchanged again at 0.5% by the Bank of England's rate-setters. |
| The nine policymakers on the Monetary Policy Committee voted 8-1 for no change, with the Bank predicting that inflation will stay below 1% until the second half of next year. | The nine policymakers on the Monetary Policy Committee voted 8-1 for no change, with the Bank predicting that inflation will stay below 1% until the second half of next year. |
| Inflation as measured by the Retail Prices Index (RPI) was 1.1%, up from 0.7% in October. | |
| RPI includes housing costs such as mortgage interest payments and council tax, whereas CPI does not. | |
| "UK inflation remained largely absent in November, and looks set to remain weaker for longer than forecasters have recently been expecting," said Chris Williamson. chief economist at data firm Markit. | |
| "Falling prices for oil and other commodities are helping drive down companies' costs. | |
| "Weak wage pressures and fierce competition in the retail sector are also helping keep a lid on prices. Hence clothing prices showing a record fall between October and November." |