Inflation has risen for the second month in a row, according to official figures.
The overall rate of price rises – as measured by the consumer price index (CPI) – grew by 2.6% in November.
It’s a further move away from the Bank of England‘s target 2% inflation rate after the rate ticked up to 2.3% in October, the first increase in three months.
This is due to the higher cost of clothing, petrol and diesel, compared to last year, the ONS said.
While the main measure of inflation, CPI, was as economists expected, other measures were lower than forecast.
Another important measure of inflation watched by the rate-setters at the Bank is core inflation, which measures price rises but excludes food and energy costs as they’re liable to sharply fall or rise.
Core inflation rose to 3.5%, less than the 3.6% anticipated by economists polled by Reuters.
Similarly, services inflation, which is impacted by rising wages, remained at 5% despite a forecast rise.
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