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

UNSC Convenes Over India-Pak Crisis

Pakistan is currently an elected member of the Council and will participate in the meeting….reports Asian Lite News The United Nations Security Council (UNSC) will be holding a closed-door meeting on Monday

SYRIA RAIDS: Arab League Slams Israel

The Arab League condemned the airstrikes and called on the international community and the United Nations to confront what it described as “repeated violations committed by Israel against the Syrian state.” The

Singapore’s Ruling Party Achieves Landslide Victory

Prime Minister Lawrence Wong, whose party won the election, thanked supporters.,..reports Asian Lite News Singapore’s ruling People’s Action Party (PAP) won 87 of the 97 seats in Parliament in Saturday’s general election,

Jaishankar, Lavrov Discuss Pahalgam Terror Attack

Both the Ministers discussed issues of Russian-Indian cooperation and the aggravation of India-Pakistan relations following the terrorist attack in Pahalgam. External Affairs Minister (EAM) S. Jaishankar spoke to the Russian Foreign Minister

Rajnath Singh to skip Russia visit

The decision comes amid rising tensions between India and Pakistan following the recent terror attack in Pahalgam, Jammu and Kashmir…reports Asian Lite News Defence Minister Rajnath Singh will not likely attend Russia’s
Go toTop

Don't Miss

Cash-starved varsities count on Indian, Chinese students

Several universities in Britain are hit by funding and strike

India Hits $1 Trillion FDI Milestone

Between April 2014 and September 2024, India attracted USD 709