Inflation Makes Surprise Drop to 3.9 Percent

The UK’s Consumer Prices Index (CPI) inflation has fallen to 3.9 percent in November, 0.4 points lower than what economists had predicted. Prime Minister Rishi Sunak hailed the “good news,” with Chancellor Jeremy Hunt declaring the UK is “back on the path to healthy sustainable growth.” The ease in inflation has also sparked hopes that the Bank of England would start cutting rates early next year. According to the Office for National Statistics (ONS), CPI rose by 3.9 percent in the 12 months to November 2023, down from 4.6 percent in October. The figures are down from a peak of 11.1 percent in October 2022 and 10.7 percent in November 2022....