British inflation turns positive
LONDON, United Kingdom (AFP) — Britain’s annual inflation rate rebounded slightly in November after two months in negative territory, aided by smaller-than-expected falls in the prices of alcoholic drinks, tobacco and transport.
The 12-month Consumer Price Index (CPI) rose by 0.1 per cent last month, after registering minus 0.1 per cent in both September and October, the Office for National Statistics (ONS) said in a statement.
“Although the prices of many items continue to fall, because they are falling at a slower rate than at the same time last year, the overall effect is a slight rise in headline CPI,” added Philip Gooding, head of ONS, in the statement.
The rise in inflation took CPI into positive territory for the first time since July. However, the rate has remained at or close to zero for 10 months in a row in the longest run of flat or falling prices since records began, dented by collapsing oil prices.
