UK Inflation on the Rise

Year-over-year inflation in the UK rose to an unexpected 1.9 percent in November due largely to rising fuel prices.

“By far the largest upward pressure affecting the change in the CPI annual rate came from transport,” noted the ONS.

“Within the transport category the largest upward effect came from fuels and lubricants, where prices rose by 2.8 percent between October and November this year but fell by a record 8.3 percent a year ago.

“The large fall in 2008 was due to sharp falls in petrol and diesel prices, reflecting the falling price of crude oil in the latter half of 2008,” added the statistics office.

AFP News

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