Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    KahawatunguKahawatungu
    Button
    • NEWS
    • BUSINESS
    • KNOW YOUR CELEBRITY
    • POLITICS
    • TECHNOLOGY
    • SPORTS
    • HOW-TO
    • WORLD NEWS
    KahawatunguKahawatungu
    ENTERTAINMENT

    UK Inflation Rate Hits Highest Level For Eight Months

    David WafulaBy David WafulaDecember 18, 2024No Comments3 Mins Read
    Facebook Twitter WhatsApp Telegram Email
    Share
    Facebook Twitter WhatsApp Telegram Pinterest Email Copy Link

    The UK inflation rate has gone up for the second month in a row, with prices rising at their fastest pace since March.

    Inflation hit 2.6% in the year to November, according to official figures.

    Fuel and clothing were among the main drivers behind the rise. Increasing ticket prices for gigs and plays were also a factor.

    Analysts say the latest figures mean the Bank of England will almost certainly not cut interest rates when it meets on Thursday.

    “Inflation rose again this month as prices of motor fuel and clothing increased this year but fell a year ago,” said Grant Fitzner, chief economist at the Office for National Statistics (ONS), which gathered the data.

    “This was partially offset by air fares, which traditionally dip at this time of year, but saw their largest drop in November since records began at the start of the century.”

    Chancellor Rachel Reeves said she recognised that families were still struggling with the cost of living.

    “Today’s figures are a reminder that for too long the economy has not worked for working people.”

    “I am fighting to put more money in the pockets of working people.”

    Inflation, while higher than earlier in the year, is well below its peak in late 2022.

    It has fallen steadily over the past two years and undershot the Bank of England’s 2% target in September, before rising again in October.

    The official forecasting body said in October that inflation was likely to pick up to 2.6% in 2025 in part due to the impact of Budget measures announced in October.

    Shadow chancellor Mel Stride said: “The chancellor has made a series of irresponsible and inflationary decisions.”

    “These figures mean higher costs in the shops, less money in working people’s pockets and risks keeping mortgage rates higher for longer,” he said.

    Prices for food and non-alcoholic drinks, alcohol and tobacco, and footwear all rose at a faster pace last month.

    A wider measure of inflation showed housing and household services costs, including rent, rose by 3.5% over the past year.

    Sarah Coles, head of personal finance at the financial services firm, Hargreaves Lansdown, said: “Inflation is staying put for now, like an unwelcome Christmas party guest hogging the sofa into the small hours.

    “The question is whether it can be shifted, or if it’s going to hang around to ruin our plans for months – eating us out of house and home and driving up the cost of everything again,” she said.

    By BBC

     

    Email your news TIPS to Editor@Kahawatungu.com — this is our only official communication channel

    Follow on Facebook Follow on X (Twitter)
    Share. Facebook Twitter WhatsApp LinkedIn Telegram Email
    David Wafula

    Related Posts

    Valentine’s Day Ideas That Don’t Involve Dating

    February 11, 2026

    Bad Bunny piles on Puerto Rican patriotism at Super Bowl half-time show

    February 9, 2026

    ‘We will pay,’ Savannah Guthrie says in desperate video plea to potential kidnappers of her mother

    February 8, 2026

    Comments are closed.

    Latest Posts

    Kim Jong Un chooses teen daughter Kim Ju Ae as heir, says Seoul

    February 12, 2026

    ODM Row Deepens as Sifuna Rejects Removal

    February 12, 2026

    US Issues New Travel Advisories, Warns Against Visiting Several Countries

    February 12, 2026

    Two miners buried alive while harvesting murram in Webuye

    February 12, 2026

    Man robbed of Sh1.9 million after leaving bank in Westlands

    February 12, 2026

    Auditor-General Flags Risks in South Lokichar Oil Development Over Legal, Fiscal Gaps

    February 12, 2026

    SHA Reports Sh131 Billion Paid Out

    February 12, 2026

    Body of lecturer found dumped on roadside in Makueni 

    February 12, 2026
    Facebook X (Twitter) Instagram Pinterest
    © 2026 Kahawatungu.com. Designed by Okii.

    Type above and press Enter to search. Press Esc to cancel.