Inflation remains low despite slight November rise
16 December 2015
• The Consumer Price Index rose by 0.1% in the year to November 2015, compared with a 0.1% fall in the year to October 2015
• Movements in transport costs and alcohol and tobacco prices were the main contributors to the rise, partially offset by falling clothing prices
• Goods inflation in November 2015 was -1.9%, while services inflation was 2.4%
Commenting on the Inflation Figures for November 2015, published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC) said:
“UK inflation remains negligible. Despite a slight rise in November, in continues to fluctuate around zero as it has done for most of the year.
“Low inflation boosts disposable incomes and supports living standards and economic growth.
“Recent figures have highlighted weaknesses in our manufacturing and trade figures, while earnings are edging up. On the basis of these figures we still believe that there is no case for any early increase in UK interest rates, irrespective of any action that the US Fed may take.”