LONDON – Britain's annual inflation rate slid more sharply than expected last month as restrictions imposed on virus-hit businesses triggered price discounting, especially for clothing and food, official data showed today.
The rate, as measured by the UK's Consumer Prices Index, dropped to 0.3% last month from 0.7% in October, the Office for National Statistics said in a statement.
Analysts' consensus forecast had been for a dip in inflation to 0.6%.
"With significant restrictions in place across the UK, inflation slowed, predominantly due to clothing and food prices," noted ONS statistician Jonathan Athow.
"Also, after several months of buoyant growth, second-hand car prices fell back a little," he added. – AFP, December 16, 2020
