PARIS (Reuters) – Inflation in the United Kingdom slowed more than expected in November, to 3.9% year-on-year, data published on Wednesday by the Office for National Statistics (ONS) showed.
Economists polled by Reuters on average forecast a deceleration to 4.4%.
Excluding energy and food, the rise in consumer prices stood at 5.1% last month, marking a slowdown after the 5.7% increase observed in October. The Reuters consensus was 5.6%.
On a monthly basis, headline inflation fell by 0.2% and core inflation by 0.3%, against respective forecasts of +0.1% and +0.2%.
On the foreign exchange market, after this publication, the pound sterling stands at 1.267 dollars (-0.47%).
The Bank of England (BoE) decided last week to opt for a further pause in raising its interest rates, maintaining its main key rate at 5.25%. However, it pushed back against expectations of a rapid fall in the cost of credit in the United Kingdom despite the ebbing of inflationary pressures.
British inflation hit a 41-year high in October 2022, reaching 11.1% following the surge in energy prices in Europe, notably following Russia’s invasion of Ukraine.
(Written by Claude Chendjou, edited by Zhifan Liu)
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