Sterling drops after decline in UK inflation

UK inflation slowed more sharply than expected in November to 3.9 per cent, down from 4.6 per cent the previous month, according to figures that will intensify pressure on the Bank of England to start cutting rates in 2024.

The year-on-year rise in the consumer prices index was lower than the 4.4 per cent reading predicted by economists, according to the Office for National Statistics, as inflation was pulled down by prices of food, recreation and energy.

Core CPI inflation, which excludes energy, food, and alcohol, rose by 5.1 per cent in the 12 months to November, down from 5.7 per cent in October.


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