Both these inflation numbers indicate that price pressures are on the rise and the central bank may adopt a wait-and-watch approach before easing key policy rates further. This was the same rise as in September and October.
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Gasoline prices fell 2.4% amid the continuing job in oil prices.
Food prices dipped 0.1 percent after gaining 0.1 percent in the prior month.
He added that there were signs that wage growth was flattening out with figures due out tomorrow expected to show pay growth had slowed from 3.0% to 2.5%.
‘What’s more, imported goods price inflation should build as the impact of the stronger pound starts to fade. That was the largest 12-month increase since May 2014 and in line with the Fed’s annual 2 percent target. The cost of shelter, health care, new cars and airline tickets all rose, MarketWatch said.
The decision comes as the US Federal Reserve is poised to make its first interest rate increase in almost a decade, while monetary policy in Europe is moving in the opposite direction.
Howard Archer, an economist at consultancy IHS Global Insight said: “The current weakness in oil prices has increased the likelihood that consumer price inflation will remain extremely low for longer”.
Costs of medical care climbed 0.4 percent after a 0.8 percent advance.
Inflation, however, is no longer trending lower.
The decrease of 0.1 per cent between October and November was the first time prices have fallen in this period since records began in 1996, the Office for National Statistics said.
Maike Currie, associate investment director at Fidelity International, said: “Today’s move into positive territory is likely to be short-lived with the massive fall in oil prices and the supermarket discount wars likely to keep a lid on United Kingdom inflation as we head into 2016”. Retail prices were up 5 percent year on year in October.
Core prices, which exclude volatile food and energy items, increased 0.2%, also matching estimates.
Inflation has been at or close to zero for most of this year and in April prices fell for the first time in more than 50 years.
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According to data released earlier in the day, inflation based on the Wholesale PriceI (WPI) rose to (-)1.99 per cent in November as food articles, led by pulses and onions, turned costlier.
