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

Gilt yields fall after Donald Trump backs down in 'tariff war'

Gilt yields fall after Donald Trump backs down in 'tariff war'

US president pauses most additional tariffs

Jonathan Stapleton
clock 10 April 2025 • 2 min read
Reeves defends yearly Budget to avoid 'constant chopping and changing'

Reeves defends yearly Budget to avoid 'constant chopping and changing'

Treasury Committee scrutinises chancellor on Spring Statement

Isabel Baxter
clock 02 April 2025 • 3 min read
Five key takeaways from the Spring Statement 2025

Five key takeaways from the Spring Statement 2025

OBR growth, ISA reforms and defence

Sorin Dojan
clock 27 March 2025 • 4 min read