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UK inflation falls sharply to 3.2% in November, fueling likelihood of Christmas rate cut
The U.K.’s inflation rate cooled sharply to 3.2% in November, boosting the chances of the Bank of England cutting interest rates at its final meeting of the year on Thursday. Economists polled by Reuters had expected inflation to stand at 3.5% in the twelve months to November — the lowest annual rate since March — and down from 3.6% in October. Core inflation, excluding energy, food, alcohol, and tobacco, also rose by 3.2% in the year to November, down from 3.4% in October, according to the latest figures from the Office for National Statistics. Lower food prices, which traditionally rise in the run up to ... (full story)