21 December 2023

The Office for National Statistics (ONS) has released the CPI inflation figures for the year up to November 2024. CPI fell by 07% percentage points to 3.9%.

Despite this reduction in inflation, the Bank of England, last week, did not see the economics of the country improving enough to budge the bank rate from 5.25%. In fact, those who voted against keeping the bank rate the same voted instead to increase it.

With the next bank rate announcement set for 1 February 2024, we have some time to wait for the next decision by the Bank of England’s Monetary Policy Committee (MPC).

Before then, we will get the next inflation announcement from ONS on 17 January 2024.

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