UK Inflation Hits 10-Year High as Prices Soar

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Pound sterling - Sputnik International, 1920, 15.12.2021
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LONDON (Sputnik) – The UK inflation rate increased to 5.1% in the 12 months to November, its highest level in a decade, amid price rises on fuel, energy, food, cigarettes, and clothing, the Office for National Statistics (ONS) said on Wednesday.

"The Consumer Prices Index (CPI) rose by 5.1% in the 12 months to November 2021, up from 4.2% to October. This is the highest CPI 12-month inflation rate since September 2011, when it stood at 5.2%", the government body said.

Commenting on the latest data, ONS chief economist Grant Fitzner said that a "wide range" of price rises contributed to the steep inflation climb.

"The price of fuel increased notably, pushing average petrol prices higher than we have seen before. Clothing costs – which increased after falling this time last year – along with price rises for food, second-hand cars, and increased tobacco duty all helped drive up inflation this month", he said.

The expert also noted that the costs of goods produced by factories and the price of raw materials have also reached their highest levels for at least 12 years.
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