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U.K. inflation turned positive in November largely driven by transport costs, official data revealed Tuesday. Meanwhile, factory gate prices continued its downward trend.
Consumer prices edged up 0.1 percent year-on-year in November, reversing a 0.1 percent fall in October, the Office for National Statistics said. The rate of increase matched expectations.
Month-on-month, consumer prices remained flat after rising 0.1 percent a month ago. Prices were forecast to drop 0.1 percent.
Core inflation that excludes energy, food, alcoholic beverages and tobacco, rose slightly to 1.2 percent in November from 1.1 percent in October.
Another report from ONS showed that output prices fell 1.5 percent year-on-year compared with a decrease of 1.4 percent in October. It was also larger than a 1.3 percent drop forecast by economists.
On a monthly basis, output prices slid 0.2 percent, faster than October’s 0.1 percent fall.
At the same time, input prices decreased 13.1 percent, bigger than a 12.3 percent decline seen in October and a 12.4 percent expected fall.
Likewise, prices slid 1.6 percent on month following a nil growth in previous month.
The material has been provided by InstaForex Company – www.instaforex.com