Lower fuel prices have pushed the UK’s rate of inflation down to a 12-year low, official statistics show.
The Consumer Prices Index inflation measure – which assesses the cost of basic household goods – fell to a rate of 1% in November from 1.3% in October.
The fall is being dubbed an “early Christmas present” for consumers.
But some investors are concerned that it could slow the UK’s economy, as people delay purchases, expecting prices to fall even further.
Inflation as measured by the Retail Prices Index fell to a five-year low of 2%, down from 2.3%.
via BBC
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.