UK Nov. Annual Inflation Increases More Than Expected

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UK annual inflation rose to 1.9% in November from 1.5% in October, the Office for National Statistics said Tuesday. The expected rate was 1.8%. Still, inflation remained below the central bank's 2% target. Compared to October, consumer prices were up 0.3%, slightly larger than the 0.2% increase expected by economists.

Core inflation that excludes energy, food, alcohol and tobacco prices, stood at 1.9% on a yearly basis, up from 1.8% in October.

Retail price annual inflation was 0.3% in November, compared with a fall of 0.8% in October. The retail price index stood at 216.6 versus October's 216. On a monthly basis, the index showed 0.3% increase. Economists were looking for an annual increase of 0.3% and 0.2% on a monthly basis.

At the same time, the retail price index, excluding mortgage interest payments rose 2.7% annually, larger than the 1.9% increase seen in October.

UK annual inflation rose to 1.9% in November from 1.5% in October, the Office for National Statistics said Tuesday. The expected rate was 1.8%. (Market News Provided by RTTNews)