UK Inflation Climbs to 2.6% in November

The UK Office for National Statistics reported on Wednesday that annual inflation in the United Kingdom rose to 2.6% in November, up from October's inflation rate of 2.3%. This increase aligns with analysts' expectations, reflecting a slight but notable rise in consumer prices.

On a monthly basis, consumer prices increased by 0.1%. Meanwhile, the Consumer Prices Index, including owner-occupiers' housing costs (CPIH), saw a year-on-year increase of 3.5% and a 0.2% rise from the previous month.

Transport and Housing Drive Inflation

Transport emerged as the primary contributor to the rise in both the CPI and CPIH annual rates from October to November. Housing and household services also played significant roles in the inflation increase.