Rise in UK inflation 'unwelcome' ahead of BoE interest rate meeting

Bank of England MPC meeting due on Thursday

Sorin Dojan
clock • 3 min read

Sterling has dipped in response to the UK inflation rate coming in at an eight month high, putting pressure on the Bank of England (BoE)as it prepares to make its final rate call of the year tomorrow (19 December).

According to data published by Office for National Statistics today (18 December), the annual rate of the UK Consumer Prices index (CPI) – which excludes energy, food, alcohol and tobacco – hit 2.6% in November, up from 2.3% a month before. The data was slightly below FactSet's consensus, which expected that figure to stand at 2.7% last month. On a monthly basis, CPI rose by 0.1% in November, compared to a 0.2% fall recorded the same month last year. The latest inflation stats weakened the pound as markets opened, giving a boost to the FTSE 100 with the blue-chip index up 0.2%, acc...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

2025 investment trends: The updated reality in wealth management

2025 investment trends: The updated reality in wealth management

'The future of wealth management will lie in personalisation'

Julia Khandoshko
clock 16 January 2025 • 4 min read
UK inflation lowers to 2.5% in December

UK inflation lowers to 2.5% in December

Down from 2.6% in November

Sorin Dojan
clock 15 January 2025 • 2 min read
'It's a challenging time': Advisers react to record gilt yield rises

'It's a challenging time': Advisers react to record gilt yield rises

Clients worried about a weakening UK economy

Isabel Baxter
clock 13 January 2025 • 5 min read