UK CPI arrives a tad weaker at 2.3% y/y in November, meets estimates

The UK Consumer Prices Index (CPI) 12-month rate came in at 2.3% in November, down from October’s 2.4% and meeting the 2.3% print expected, the UK Office for National Statistics (ONS) reported on Wednesday. 

Meanwhile, the core inflation gauge (excluding volatile food and energy items) arrived at 1.8% y/y versus 1.9% booked in October while in line with the consensus forecast of 1.8%.

The monthly figures showed that the UK consumer prices rose to 0.2% in November, matching 0.2% expectations and 0.1% previous.