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UK inflation jumps above 5% as BoE considers rate rise

Published by
Reuters

By David Milliken and Andy Bruce LONDON (Reuters) -British inflation surged to its highest in more than 10 years in November, jumping to 5.1% and potentially unsettling the Bank of England a day before it announces whether it is raising interest rates for the first time since COVID-19 struck. Price pressure from a broad range of consumer goods and services – but especially petrol, clothing and footwear – lay behind the increase in inflation to its highest since September 2011, the Office for National Statistics (ONS) said. The reading exceeded all forecasts in a Reuters poll of economists, whi…

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