The cost of living in the UK rose by 5.1 percent in the 12 months to November, the highest in more than a decade, latest statistics show. According to data released on Wednesday by the Office for National Statistics (ONS), the Consumer Prices Index (CPI) rose by 5.1 percent in the 12 months to November 2021, up from 4.2 percent in October. On a monthly basis, CPI increased by 0.7 percent in November 2021, compared with a fall of 0.1 percent in November 2020. It is the first time that CPI has breached 5 percent for more than a decade and sees inflation remain more than double the Bank of England’s 2 percent target. ONS chief economist Grant Fitzner said: “A wide range of price rises contributed to another steep rise in inflation, which now stands at its highest rate for over a decade.” “The price of fuel increased notably, …
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