Inflation falls more than expected to 3.2% as official figures released latest

"Inflation eased further than expected last month after a dip in food and tobacco costs helped offset a jump in hotel prices. The Consumer Prices Index (CPI) inflation has fallen to 3.2 per cent in November, down from 3.6 per cent in October, according to figures announced on Wednesday morning. This means prices across the UK are continuing to rise, but at a slower rate than before. Inflation peaked in August, but October marked a notable turning point which saw the CPI rate drop for the first time in five months, economists said."

"Inflation fell notably in November to its lowest annual rate since March, ONS chief economist Grant Fitzner said, adding that lower food, tobacco, and women's clothing prices helped pull the rate down. Lower food prices, which traditionally rise at this time of the year, were the main driver of the fall, with decreases seen, particularly for cakes, biscuits and breakfast cereals, he said. But he explained the annual cost of raw materials for businesses had continued to rise."

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CPI inflation in the UK fell to 3.2% in November, down from 3.6% in October, showing a slowdown in the rate of price increases. The drop was largely driven by falls in food and tobacco prices, and lower costs for women's clothing. Food categories such as cakes, biscuits and breakfast cereals recorded notable decreases. A rise in hotel prices partly offset those falls. Inflation had peaked in August, with October marking the first monthly decline in five months. Meanwhile, the annual cost of raw materials for businesses continued to rise.

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