British official inflation rate slows to 4.8% in November

13th December 2011, Comments 0 comments

Britain's 12-month inflation dipped to a rate of 4.8 percent in November from 5.0 percent in October, helped by lower food and petrol prices, official data showed on Tuesday.

Consumer Prices Index (CPI) inflation increased by 0.2 percent in November from October on a month-on-month basis, according to the Office for National Statistics (ONS).

"CPI annual inflation stands at 4.8 percent in November 2011, down from 5.0 percent in October," the ONS said in a statement.

"The largest downward pressures came from food, petrol, clothing and furniture, household equipment and maintenance." There were also upward pressures from increases in the cost of domestic heating.

Back in September, annual inflation had struck a three-year peak at 5.2 percent on the back of surging household energy bills.

"November's UK inflation figures provide further hope that inflation has now passed its peak and could soon fall pretty sharply," said Capital Economics analyst Vicky Redwood.

The Bank of England's main task is to use monetary policy to try and keep annual inflation close to a 2.0-percent target level.

However, the central bank is increasingly worried about the economy sliding back into recession.

© 2011 AFP

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