UK Annual Inflation Falls Sharply to 3.2% in November, Exceeding Expectations
UK Annual Inflation Falls Sharply to 3.2% in November, Exceeding Expectations
Britain's annual inflation rate slowed more than expected in November to 3.2 percent, official data showed Wednesday which analysts said cement expectations of a Bank of England rate cut this week. The Consumer Prices Index dropped from 3.6 percent in October, the Office for National Statistics said in a statement. Analysts' consensus forecast had been for inflation of 3.5 percent in November. The Bank of England is widely expected to cut its main interest rate by a quarter point to 3.75 percent on Thursday, as the UK economy struggles to grow and unemployment rises.
