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UK Inflation Hits Eight-Month Highs

The UK inflation rate has gone up for the second month in a row, with prices rising at their fastest pace since March.

Inflation hit 2.6% in the year to November, according to official figures.

Fuel and clothing were among the main drivers behind the rise. Increasing ticket prices for gigs and plays were also a factor.

Chancellor Rachel Reeves said she recognised that families were still struggling with the cost of living.

“Today’s figures are a reminder that for too long the economy has not worked for working people.”

“I am fighting to put more money in the pockets of working people.”

Inflation, while higher than earlier in the year, is well below its peak in late 2022.

It has fallen steadily over the past two years and undershot the Bank of England’s 2% target in September, before rising again in October.

he official forecasting body said in October that inflation was likely to pick up to 2.6% in 2025 in part due to the impact of Budget measures announced in October.

Shadow chancellor Mel Stride said: “The chancellor has made a series of irresponsible and inflationary decisions.”

“These figures mean higher costs in the shops, less money in working people’s pockets and risks keeping mortgage rates higher for longer,” he said.

Prices for food and non-alcoholic drinks, alcohol and tobacco, and footwear all rose at a faster pace last month.

A wider measure of inflation showed housing and household services costs, including rent, rose by 3.5% over the past year.

Food price rises since 2020

Source: Office for National Statistics

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