Headline inflation rises to 2.6% in November, ONS data shows.
“Inflation rose again this month as prices of motor fuel and clothing increased this year but fell a year ago," ONS Chief Economist Grant Fitzner said. "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," he added.
The data was in line with City expectations and largely in line with the Bank of England's own forecasts. With policymakers meeting Wednesday to vote their rate decision, there is little in the data to trigger anything other than an 'on hold' majority vote. (see MNI BOE WATCH: On Hold In December, Gradualism Dominant )
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