inflation in Britain slowed more than expected last November, supported by Black Friday discounts, with the price of clothes and shoes falling at the highest rate in ten years.
According to CNBC Arabia, the Office for National Statistics said that consumer prices increased 0.3% year on year after rising 0.7% in October. A Reuters poll of economists indicated a reading of 0.6%.
and data indicate that inflation is near a five-year low of 0.2% that it hit in August, a level far from the Bank of England's target for inflation below Two percent, but close to her.
The Office for National Statistics said that clothing and footwear prices fell 2.7% in November alone, the largest drop recorded this month compared to a 1% increase last year.
On an annual basis, clothing and footwear prices fell 3.6%, the largest annual decline since January 2010.
