- U.K. CPI held steady at +0.1% on month in November, missing consensus for a rise of 0.2%.
- On year, inflation dropped to a four-year low of 2.1% last month from 2.2% in October and vs forecasts that were also 2.2%.
- The drop in annual overall inflation moves the metric closer to the Bank of England's target of 2%.
- "The largest contributions to the fall in the rate came from food and the utilities (gas and electricity)," the government says. "These were partially offset by upward contributions from the transport sector, and from some aspects of recreation and culture."
- Core CPI +1.8% vs +1.7% and +1.8%
- Factory output prices (PPI) fell 0.2% on month vs +0.3% and -0.1%.
- The pound slides vs the dollar but is still +0.1% at $1.6318, while the FTSE 100 is -0.5%. (PR)
U.K. inflation drops towards BOE target
Dec 17 2013, 04:49 ET