U.K. Inflation Rate Falls to 20-Month Low as Oil Prices Tumble
Wednesday, 19 December 2018 17:04 WIB |
ECONOMY |UK InflationU.K. Inflation Rate
U.K. inflation eased to a 20-month low in November as a sharp fall in oil prices brought down the cost of filling up a vehicle.
Consumer-price growth slowed to 2.3 percent from 2.4 percent in October, as forecast in a Bloomberg survey. Core inflation slipped to 1.8 percent from 1.9 percent.
Producer input prices fell 2.3 percent from October, driven down by a 11.8 percent drop in the price of crude oil. The decline saw the annual rate of increase drop to 5.6 percent from 10.3 percent.
Output prices rose 0.2 percent, taking the year-on-year rate to 3.1 percent.
Fears that Britain could crash out of the EU without a deal are taking a toll on the U.K. housing market, with house- prices growth slowing to 2.7 percent in October, the lowest since July 2013. The worst-performing region was London, where prices fell 1.7 percent.
Source : Bloomberg