INFLATION IN GREAT BRITAIN HAS GROWED TO MAXIMUM FOR MORE THAN 2 YEARS
Inflation in the country surpassed the November forecasts of economists, amid rising prices for clothing and gasoline.
The inflation rate rose to 1.2% from 0.9%, indicating that prices have been growing at the fastest pace since October 2014. Economists had expected that the figure would be 1.1%.
Inflationary pressures were accentuated by the weakening of the pound after the referendum on Britain’s membership in the EU and the rise in oil prices. Import prices rose by 15% in November, and this was the maximum annual increase over 5 years.
The change in price perspectives forced the Bank of England to reconsider its position after lowering rates in August.
Economists expect that the central bank will keep rates at a record low, 0.25% at the last meeting of 2016, on Thursday.
The pound rose against the dollar after the news, reaching $ 1.270 in the morning session in London, adding 0.2% a day.