The Limited Times

Now you can see non-English news...

United Kingdom: Inflation slows to 10.7% in November

2022-12-14T08:11:17.832Z


This decrease is due to a reduction in transport and fuel prices. Inflation in the UK slowed to 10.7% in November year on year, after 11.1% in October, the Office for National Statistics said on Wednesday, but it remains at historically high levels which are fueling a crisis of the cost of living. A fall in transport prices and in particular fuel was the main factor in the slowdown in price increases in November, partially overshadowed by an increase in prices i


Inflation in the UK slowed to 10.7% in November year on year, after 11.1% in October, the Office for National Statistics said on Wednesday, but it remains at historically high levels which are fueling a crisis of the cost of living.

A fall in transport prices and in particular fuel was the main factor in the slowdown in price increases in November, partially overshadowed by an increase in prices in restaurants, cafes and pubs, details the Office in a monthly report.

To discover

  • Prime Macron 2022: conditions, amount, date of payment... how does it work?

Tobacco and clothing prices are also still rising, but less than last year, noted Grant Fitzner, chief economist at the ONS.

These figures are published on the eve of a monetary policy decision by the Bank of England, which should, according to market expectations, raise its interest rates again in an attempt to curb inflation, dubbed "

enemy number

by Chancellor of the Exchequer (Finance Minister), Jeremy Hunt.

After the shocks of Covid-19

” and the Russian invasion of Ukraine, which resulted in soaring gas prices, “

high inflation is hitting economies across Europe and I know the families and businesses are struggling here in the UK

,” Mr.

Read alsoThe Fed is preparing for a new phase in its fight against inflation

"

Bringing inflation down...is my priority, which is why we're capping energy bills this winter and have a plan in place to halve inflation next year

," he said. he added.

While Britain's gross domestic product (GDP) rebounded 0.5% in October, the UK economy is already in recession according to several forecasting institutes, including the government, and is expected to remain so next year. .

Source: lefigaro

All business articles on 2022-12-14

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.