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RPI drops to 3% in November

The Consumer Prices Index (CPI) annual inflation stands at 2.7 per cent in November 2012, unchanged from October.

The latest figures, published by the Office for National Statistics on December 18th, show that although unchanged overall, at a more detailed level there were significant upward and downward pressures on CPI annual inflation between October and November.

The largest upward pressures to annual inflation came from food & non-alcoholic beverages (principally bread & cereals and vegetables) and housing & household services (particularly domestic gas and electricity)

The largest downward pressures came from motor fuels and furniture, household equipment & maintenance

The CPI stands at 124.4 in November 2012 which is based upon the level set in 2005 at 100.

The Retail Prices Index (RPI) annual inflation stands at 3.0 per cent in November 2012, down from 3.2 per cent in October

The largest downward pressures behind the change in the RPI rate came from motoring expenditure, housing and household goods. These were partially offset by an upward pressure from food.

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