UK inflation drops to its lowest rate in over 2 years
British inflation plunged in November to its lowest rate in over two years, prompting investors to pile further into bets that the Bank of England will cut interest rates in the first half of next year. The annual rate of increase in consumer prices dropped to 3.9% from 4.6% in October, pushed down in part by cheaper petrol, for its lowest reading since September 2021, the Office for National Statistics said on Wednesday. The headline Consumer Prices Index (CPI) inflation reading was below all forecasts in a Reuters poll of economists which had pointed to a figure of 4.4%.
Source: yahoo.com