London, United Kingdom, Dec 16 – Britain’s annual inflation rate slid more sharply than expected in November as restrictions imposed on virus-hit businesses triggered price discounting, especially for clothing and food, official data showed Wednesday.
The rate, as measured by the UK’s Consumer Prices Index, dropped to 0.3 percent last month from 0.7 percent in October, the Office for National Statistics said in a statement.
Analysts’ consensus forecast had been for a dip in inflation to 0.6 percent.
“With significant restrictions in place across the UK, inflation slowed, predominantly due to clothing and food prices,” noted ONS statistician Jonathan Athow,
“Also, after several months of buoyant growth, second-hand car prices fell back a little,” he added.
