Inflation in the UK rose to 2.6 percent in November, marking the second consecutive monthly increase, according to data from the Office for National Statistics.
Inflation had fallen to a three-and-a-half-year low of 1.7 percent in September but was expected to rise over the following months, in part due to an increase in the energy price cap set by regulators for this winter.
Continued inflation in the services sector, which accounts for the bulk of the British economy, is attributed to financial markets' expectations that there will be no interest rate cuts at the last Bank of England meeting of the year.
Source (CNBC Arabia Website, Edited)
