November’s Consumer Price Index Inflation Stayed at 2.7%

CPI inflation stayed at 2.7% last month, unaltered from October.

The RPI inflation decreased from 3.1% in October to 2.9% in November.

The Office for National Statistics said, even though the rate had not altered, compared with October there had been many substantial upwards and downwards pressures.

Food and nonalcoholic beverages rose by 1.1%. Housing and household services rose by 0.6%, especially gas and electricity. They were the largest upward pressures.

Motor fuels fell by 1.0% and furniture, household equipment and maintenance fell by 0.1%. They were the largest downward pressures.

For RPI the largest downwards pressures were from motoring expenditure, housing and household goods, which in turn was offset by an upwards pressure from food.

Another announcement from The Office for National Statistics included changes being made to the CPI readings in March 2013. The changes will include owner occupiers housing costs joining the CPI, to create the CPIH. This inflation index will monitor housing costs using a rental equivalent method: This will display the costs of owning, living in and maintaining a property.

The reading for the Consumer Price Index will next be taken on the 15th January 2013.