Inflation sticky at 2.7% in November

UK CPI inflation remained at 2.7% in October, broadly in line with economists' expectations, as RPI inflation fell from 3.2% to 3%.

The Office for National Statistics said CPI was subject to both "significant upward and downward pressures" between October and November. Food, non-alcoholic beverages, gas and electricity prices exhibited the most upwards pressure on the headline rate, with falling fuel prices among the largest downwards pressures. The data means CPI inflation remains in excess of its 2% target, having jumped from 2.2% to 2.7% in October, and policymakers are beginning to broach the possibility of the threshold being scrapped or modified in future. Incoming Bank of England governor Mark Carney sug...