Wednesday, December 18, 2024

UK inflation rate rises for second month in a row

Must read

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

“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.”

Chancellor Rachel Reeves said she recognised that families were still struggling with the cost of living.

“Today’s figures are a reminder that for too long the economy has not worked for working people.”

“I am fighting to put more money in the pockets of working people.”

Shadow chancellor Mel Stride said: “The chancellor has made a series of irresponsible and inflationary decisions.”

“These figures mean higher costs in the shops, less money in working people’s pockets and risks keeping mortgage rates higher for longer.”

A wider measure of inflation showed housing and household services costs, including rent, rose by 3.5%.

Latest article