2020.12.1606:17:00UTC+00UK Inflation Slows In November

UK consumer price inflation slowed to a three-month low in November, data from the Office for National Statistics showed Wednesday.

Inflation weakened to 0.3 percent from 0.7 percent in October. The rate was well below the economists' forecast of 0.6 percent.

On a monthly basis, consumer prices dropped 0.1 percent after staying flat a month ago. This was the first fall in three months and in contrast to a 0.1 percent rise economists' had forecast. Excluding energy, food, alcoholic beverages and tobacco, core inflation eased more-than-expected to 1.1 percent from 1.5 percent in October. The expected rate was 1.4 percent.

Another report from the ONS showed that output prices decreased for the ninth consecutive month in November. Nonetheless, the rate of decline slowed to 0.8 percent from 1.4 percent. Prices were forecast to drop 0.9 percent.

Month-on-month, output prices gained 0.2 percent, following a flat growth in October.

At the same time, input prices grew 0.2 percent on month in November, following a 0.4 percent rise in October.

The annual fall in input prices slowed to 0.5 percent from 1.2 percent. Economists had forecast an annual 2.5 percent decline.