UK sees highest inflation in over a decade

5.1%

UK inflation hit 5.1% in November, exceeding expectations of 4.8% and reaching its highest point since September 2011.

On a monthly basis, inflation increased by 0.7% in November, compared with a fall of 0.1% in November 2020. Richard Carter, head of fixed interest research at Quilter Cheviot wrote that "unfortunately for consumers, peak inflation may still be a few months off." Andrew Pottie, senior portfolio manager at Titan Asset Management, added: "This is no surprise given the increase in drivers of cost push inflation we have seen in recent weeks. The true uncertainty remains whether this above expectation, and trend, data will continue to persist longer than the Bank of England have forecasted....