UK Inflation Rises 1.2% in November

UK inflation climbed to 1.2% in November, the highest level in more than two years, in a sign that the fall in the value of the pound since the Brexit vote is fuelling a rise in the cost of living.

The rise in the consumer prices index, from 0.9% in October, was largely driven by higher petrol and clothing prices according to the Office for National Statistics.

November’s rate was the highest since October 2014, and slightly above the 1.1% forecast by City economists.

Frances O’Grady, the TUC general secretary, said rising inflation posed a threat to living standards in the UK.

“Working people are facing over a decade of lost wage growth, with rising prices hitting their pay packets again. The government needs to act fast to avoid another living standards crisis. That means a clear plan for Brexit that will protect jobs, pay and rights.”

via The Guardian

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