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consumer prices rise

The Consumer Prices Index (CPI) rose by 1.2% in the year to November 2016, compared with a 0.9% rise in the year to October, according to the Office for National Statistics.

The rate in November was the highest since October 2014, when it was 1.3%.

Rises in the prices of clothing, motor fuels and a variety of recreational and cultural goods and services, most notably data processing equipment, were the main contributors to the increase in the rate.

These upward pressures were partially offset by falls in air and sea fares.

Meanwhile,  the price of goods bought and sold by UK manufacturers, as estimated by the Producer Price Index, rose again in the year to November 2016. This is the fifth consecutive increase following 2 years of falls and the largest increase since April 2012. Between October and November, total output prices showed no movement, compared with an increase of 0.7% the previous month.

Factory gate prices (output prices) for goods produced by UK manufacturers rose 2.3% in the year to November 2016, compared with an increase of 2.1% in the year to October 2016.

Core factory gate prices, which exclude the more volatile food, beverage, tobacco and petroleum products, rose 2.2% in the year to November 2016, the largest increase since February 2012.

The overall price of materials and fuels bought by UK manufacturers for processing (total input prices) rose 12.9% in the year to November 2016, compared with a rise of 12.4% in the year to October 2016. Between October and November, total input prices fell by 1.1%, compared with a record increase of 4.5% the previous month.

Core input prices, which exclude purchases from the more volatile food, beverage, tobacco and petroleum industries, rose 11.5% in the year to November 2016, compared with a rise of 10.3% in the year to October 2016.

 

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