UK CPI increased to 3.1%

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Tuesday, Dec 12 2017

UK CPI increased to 3.1%

The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.8% in November 2017, unchanged from October 2017. The Consumer Prices Index (CPI) 12-month rate was 3.1% in November 2017, up from 3.0% in October 2017; it was last higher in March 2012. The largest upward contribution to change in both the CPIH and CPI rates came from air fares which fell between October and November but by less than a year ago. Rising prices for a range of recreational and cultural goods and services, most notably computer games, also had an upward effect. Falling prices in the miscellaneous goods and services category (covering products such as travel goods and financial services) provided the largest offsetting downward contribution.

The headline rate of inflation for goods leaving the factory gate (output prices) rose 3.0% on the year to November 2017, up from 2.8% in October 2017. Prices for materials and fuels (input prices) rose 7.3% on the year to November 2017, up from 4.8% in October 2017. All industries provided upward contributions to both input and output annual inflation; the largest contributors to the change in the annual rates were crude oil and petroleum products respectively. Core input inflation was 4.6% on the year to November 2017, up from 3.4% in October 2017.

More in this category: « Australian house prices unexpectedly fell in Q3 ZEW Economic Sentiment for Germany and Eurozone fell in December »

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