Rolling coverage of the latest economic and financial news
- Latest: Consumer price inflation sticks at 1.5%
- Chocolate pushed food prices up, says ONS
- But hotel and tobacco inflation fell
- Introduction: Brexit fears are hurting the pound
- Sterling hits two-week low vs euro
- Threat of hard Brexit in December 2020 looms
ONS Head of Inflation Mike Hardie points out that concert tickets, and package holidays, also became pricier last month:
“The headline rate of inflation remained steady with prices rising across a variety of goods and services such as chocolate, concert tickets and package holidays, offset by falling hotel costs and cigarette prices rising substantially slower than this time last year.
Food prices rose in November, particularly for chocolate, according to today’s inflation report.
Prices rose between October and November 2019 by more than between the same two months a year ago, especially for sugar, jam, syrups, chocolate and confectionery (which rose by 1.8% this year, compared with a rise of 0.1% last year).
Within this group, boxes and cartons of chocolates, and chocolate covered ice cream bars drove the upward movement.
Prices rose between October and November 2019 but by less than a year ago, especially for women’s garments (which rose by 1.3% this year, compared with 2.1% last year). Within this group, the largest individual contributions came from women’s formal trousers and strappy tops.