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Inflation rises to 1.2 per cent in November

13 December 2016

UK inflation rose to 1.2 per cent in November, slightly ahead of expectations and is the highest level for over two years.

Joel Dungate, Investment Analyst at investment management and stockbroking firm Redmayne-Bentley, said:

 “This highlights the effects of Sterling depreciation coming through. We believe that consumers are likely to feel the effects of price increases if they have not done so already, especially with the price of clothing, motor fuels and the cost of eating out having been main contributors to the inflation figure. This is a concern for the economy, which has been supported by strong consumer spending, and it will be interesting to see if this enthusiasm remains. It is also notable that Sterling weakness is feeding through to factory gate prices, affecting the price of imported goods, which suggests inflation is likely to run further.”

 

Contact:
Ruth Peterson
PR Executive
Email: ruth.peterson@redmayne.co.uk
Tel: 0113 200 6476

Branch: Leeds (Head Office)

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