Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

UK inflation falls by more than anticipated to two-year low of 3.9 per cent in November

AP
Updated: December 20th, 2023, 15:43 IST
in International
0
Bank of England

Bank of England. Image: PTI

Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

London: Inflation in the UK as measured by the consumer prices index eased back to its lowest level in more than two years, official figures showed Wednesday, in a development that is likely to bolster speculation that the Bank of England may start cutting interest rates sooner than expected.

The Office for National Statistics said inflation dropped to 3.9 per cent in the year to November, its lowest level since September 2021, from 4.6 per cent the previous month. That decline was bigger than anticipated in financial markets.

Also Read

UN humanitarian operations

UN humanitarian operations facing collapse, funding shrinking: Guterres warns

39 minutes ago
Trump calls PM Modi a great man, claims India 'assured' him to stop buying Russian oil

Trump praises PM Modi as ‘great man’, claims India ‘assured’ him to stop buying Russian oil

2 hours ago

The agency said the biggest driver for the fall was a decrease in fuel prices after an increase at the same time last year. Food price inflation also contributed to the decline.

Last week, the Bank of England left its main interest rate at a 15-year high of 5.25 per cent, where it has stood since August following the end of nearly two years of hikes. Bank Gov. Andrew Bailey said interest rate policy would likely have to remain “restrictive for an extended period of time.”

The Bank of England has managed to get inflation down from a four-decade high of over 11 per cent but still has a way to go to get to its target of 2 per cent.

Higher interest rates targeted a surge in inflation, first stoked by supply chain issues during the coronavirus pandemic and then Russia’s invasion of Ukraine, which pushed up food and energy costs.

While the interest rate increases have helped in the battle against inflation, the squeeze on consumer spending, primarily through higher mortgage rates, has weighed on growth in the British economy. There are growing worries that rates will stay high for too long, unnecessarily damaging the economy.

Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said November’s surprisingly sharp fall in inflation “reinforces the likelihood” that the central bank will begin to reduce interest rates in the first half of 2024, “far earlier than it has been prepared to signal so far.”

AP

Tags: Bank of EnglandNational StatisticsRussiaUkraineUnited Kingdom
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Sipra Mishra

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar Ghibela

December 12, 2019
#MyPaperBagChallenge

Tabish Maaz

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Jhili Jena

December 12, 2019
#MyPaperBagChallenge

Narendra Kumar

December 12, 2019
#MyPaperBagChallenge

Mrutyunjaya Behera

December 12, 2019
#MyPaperBagChallenge

Kamana Singh

December 12, 2019
#MyPaperBagChallenge

Mandakini Dakua

December 12, 2019
#MyPaperBagChallenge

Archana Parida

December 12, 2019
#MyPaperBagChallenge

Debasis Mohanty

December 12, 2019
#MyPaperBagChallenge

Smitarani Sahoo

December 12, 2019
#MyPaperBagChallenge

Praptimayee Biswal

December 12, 2019
#MyPaperBagChallenge

Anshuman Sahoo

December 12, 2019
#MyPaperBagChallenge

Anup Mahapatra

December 12, 2019
#MyPaperBagChallenge

Geetanjali Patro

December 12, 2019
#MyPaperBagChallenge

Keshab Chandra Rout

December 12, 2019
#MyPaperBagChallenge

Swarit Praharaj

December 12, 2019
#MyPaperBagChallenge

Tapaswini Mallick

December 12, 2019
#MyPaperBagChallenge

Adweeti Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Archit Mohapatra

December 12, 2019
#MyPaperBagChallenge

Surya Sidhant Rath

December 12, 2019
#MyPaperBagChallenge

Subhajyoti Mohanty

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Spinoj Pattnaik

December 12, 2019
#MyPaperBagChallenge

Pragyan Priyambada

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar

December 12, 2019
#MyPaperBagChallenge

Adyasha Priyadarsani Sendha

December 12, 2019
#MyPaperBagChallenge

Anasuya Sahoo

December 12, 2019
#MyPaperBagChallenge

Akshaya Kumar Dash

December 12, 2019

Archives

Editorial

Historic Deal

Trump, Netanyahu
October 15, 2025

There is no doubt the way fighting in Gaza was ended and a peace process set in motion in the...

Read moreDetails

Peacemakers

Trump-Maria
October 14, 2025

There is rejoicing as peace has started to return to the heart of the war-ravaged Middle East, and a ceasefire...

Read moreDetails

Afghanistan As Friend

Afghanistan
October 13, 2025

Some politicians and feminists are screaming that it is outrageous that the Taliban could display its misogyny on Indian soil...

Read moreDetails

Stalled Promise

October 12, 2025

Thirty five years ago, India chose to go down two paths, on both of which it remains. The first path...

Read moreDetails
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2025 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2025 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2025 All rights Reserved by OrissaPOST