By Geoffrey Smith
Investing.com -- U.K. inflation fell by more than expected in November, easing the pressure on the Bank of England to keep raising interest rates against the backdrop of a recession.
The consumer price index rose by 0.4% on the month, down from an alarming 2.0% in October that was caused by the adjustment of regulated household energy prices. Analysts had expected an increase of 0.6% ahead of time.
That brought the year-on-year rate down to 10.7% from 11.1%.
Stripping out volatile fuel and energy components, the core CPI rate also eased by more than expected, rising only 0.3%, rather than the 0.5% forecast. In annual terms, core inflation is now running at 6.3%, down from 6.5% last month.
The figures come only hours before the Bank of England is set to announce its latest policy decisions.