The inflation rate fell to 10.7% in November, but while this will fuel hopes that inflation is now past the peak, experts are warning there will continue to be a “deep and protracted fall in living standards”.
The fall in the Consumer Prices Index as announced today was slightly higher than expected by analysts who predicted it would drop to 10.9% from 11.1% in October. The lower rate was thanks in part to a retreat in petrol prices, but was offset by price rises for alcohol in restaurants, cafes and pubs, according to the Office for National Statistics. The figures are also reflected the fixed-price cap on utility prices, which has "thrown water on the flames of burning energy price inflation," according to Raymond James Investment Services European strategist Jeremy Batsone-Carr. Howev...
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