The fall in inflation will foster hope that inflation has peaked, with this possibly paving the way for further interest rate cuts next year.<\/p>\n
Other items which also pushed down inflation were the cost of tobacco, restaurant meals and hotel stays, furniture, and transport.<\/p>\n
Prices are still rising on average across the economy, but there were decreases in some items between October and November.<\/p>\n
Food prices, which were the biggest driver of the lower inflation figure, fell month on month – bucking a trend for normally rising at this time of the year. <\/p>\n
Between October and November, food prices fell by 0.2 of a percentage point, and increased 4.2% in the year to November – a decrease on the 4.9% in the year to November. <\/p>\n
Chancellor Rachel Reeves said she knew that families across Britain “will welcome this fall in inflation”.<\/p>\n
“Getting bills down is my top priority. That is why I froze rail fares and prescription fees and cut \u00a3150 off average energy bills at the Budget this year,” she said. <\/p>\n
Inflation in the UK is a measure of the Consumer Prices Index, which is a basket of goods and services selected by the ONS that includes things like bread, fruit, and different items of clothing. <\/p>\n
The fall in inflation triggered a sell off in the pound, with it falling 0.7% against the dollar. <\/p>\n","protected":false},"excerpt":{"rendered":"The fall in inflation will foster hope that inflation has peaked, with this possibly paving the way for…\n","protected":false},"author":2,"featured_media":320938,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":["post-320937","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/320937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=320937"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/320937\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/320938"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=320937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=320937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=320937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}