Inflation holds steady in November

INFLATION was unchanged in November, new figures reveal, with analysts expecting the headline rate to rise again in the New Year.

Data from the Office of National Statistics showed CPI inflation held steady at 2.7% in November.

However, the detail beneath the headline figure showed gas, electricity and food prices put “significant” upward pressure on inflation offset by slackening in motor fuel, household equipment and maintenance.

A jump from 2.2% to 2.7% in October was put down to the rise in university tuition fees and today’s news offered some relief that it did not represent a broader trend of sharp rises.

However experts warned that relief will be shortlived with a return to rises likely in the New Year as CPI heads towards a likely peak of around 3.5%.

Coverage of the inflation data is brought to readers of TheBusinessDesk.com in partnership with stockbroker Redmayne-Bentley.