UK inflation static at 2.7%

The downward trend in UK inflation has come to a grinding halt, with November figures showing the rate unchanged at 2.7%, the Bank of England target rate being 2%, disappointing markets that were looking for a lower figure, though an upward trend is highly likely in the first half of 2013.

Fuel prices were lower but the effect of the main UK energy suppliers raising their prices as a pack, has started to filter through and will continue to do so, potentially pushing the inflation rate back through 3% in the coming months and possibly going as high as 3.5%.

In addition to the higher consumer energy costs, various food items such as bread and fruit were also more expensive.