British inflation has slowed sharply to the lowest level in more than two years on falling petrol prices, official data showed Wednesday, easing a cost-of-living crisis after aggressive interest-rate hikes. The Consumer Prices Index hit 3.9 percent in November from 4.6 percent the previous month, touching a low last seen in September 2021, the Office of National Statistics said in a statement.The news handed a further boost to embattled Prime Minister Rishi Sunak after inflation had already achieved his goal of falling below five percent in October.
“Inflation eased again to its lowest annual rate for over two years, but prices remain substantially above what they were before the invasion of Ukraine,” said ONS chief economist Grant Fitzner.—APP
