UK inflation falls further than expected in November to 3.9%

Core inflation down to 5.1%

The UK Consumer Prices Index has dropped to 3.9% in the year to November 2023, according to data from the Office for National Statistics, released today (20 December).

The fall defied expectations, as economists had forecast inflation to decrease to 4.4% for the month, from 4.6% in October 2023. BoE's Broadbent: More 'protracted and clearer' decline in inflation needed to confirm downward trend The largest contributions to the drop came from transport, recreation and culture, and food and non-alcoholic beverages, the ONS found. Overall, the agency discovered there were no divisions with "large offsetting upward effects" during the month, with virtually all components either decreasing or remaining at the same level of October 2023. Core CPI ha...