UK inflation climbs for the second month in a row

Official figures for November show the UK’s inflation rate has risen for the second month in a row.

It climbed to 2.6%, up from 2.3% in the year to October, according to figures from the Office for National Statistics (ONS).

Main drivers of the rise were fuel and clothing, while prices for recreation and cultural activities also rose.

Year-on-year core Inflation (excluding food and energy) rose to 3.5% in November, up from 3.3% in October.

The Bank of England raises interest rates to try to keep inflation at its target of 2%. While its next rates decision is due tomorrow, economists anticipate rates will be held at 4.75%.

Grant Fitzner, chief economist at the ONS, said: “Inflation rose again this month as prices of motor fuel and clothing increased this year but fell a year ago.

“This was partially offset by air fares, which traditionally dip at this time of year, but saw their largest drop in November since records began at the start of the century.”

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