UK CPI up 3.9% in 12 months to Nov 2023; factory gate prices drop 0.2%

20 Dec '23

2 min read

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The UK consumer prices index (CPI) rose by 3.9 per cent in the 12 months to November, down from 4.6 per cent in October.
On a monthly basis, CPI fell by 0.2 per cent in the month compared with a rise of 0.4 per cent in November 2022.
Factory gate prices fell by 0.2 per cent in the period, up from a revised fall of 0.3 per cent in the year to October.

The UK consumer price index (CPI) rose by 3.9 per cent in the 12 months to November this year, down from 4.6 per cent in October. On a monthly basis, CPI fell by 0.2 per cent in the month compared with a rise of 0.4 per cent in November last year, according to the Office of National Statistics (ONS).

The transport sector was one of the largest downward contributor to the monthly change in CPI annual rates.

Core CPI (excluding energy, food, alcohol and tobacco) rose by 5.1 per cent in the 12-month period, down from 5.7 per cent in October. The goods CPI annual rate slowed from 2.9 per cent to 2 per cent.

Producer input prices in the country fell by 2.6 per cent in the year to November, unchanged from a fall of 2.6 per cent in the year to October. Producer output (factory gate) prices fell by 0.2 per cent in the 12-month period, up from a revised fall of 0.3 per cent in the year to October.

On a monthly basis, producer input prices fell by 0.3 per cent and output prices fell by 0.1 per cent in November this year.

Annual producer price inflation rates have been slightly falling since June this year. However, index levels for both input and output prices remain substantially higher than their 2021 levels, the last time producer price inflation was stable.

The monthly output producer price inflation rate for textiles, apparel and leather products was 1.2 per cent in November and the similar annual rate during the month was 7.4 per cent.

Fibre2Fashion News Desk (DS)

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