UK sees highest inflation rates since March, clothing drives up figures

New figures from the Office for National Statistics (ONS) have revealed an increase in inflation once again. According to the data, the Consumer Prices Index (CPI) rose by 2.6 percent in the 12 months to November 2024, increasing from 2.3 percent in the 12 months to October.

On a monthly basis, meanwhile, CPI rose 0.1 percent for the month, compared with a drop of 0.2 percent in November 2023. While the increase in this regard was driven largely by an upward contribution from transport, the clothing and footwear sector was also a notable contributor.

Compared to a 1 percent increase in CPIH rates for October 2024, the category saw an increase of 2 percent in November. When compared to the same period last year, during which a decrease of 0.3 percent was reported, clothing and footwear CPIH rose 0.6 percent.

Responding to the latest inflation figures, Kris Hamer, director of insight of the British Retail Consortium (BRC), said that retailers were doing “their up-most to deliver an affordable Christmas for their customers in the face of global price pressures”.

While expressing concern over changes under the new Labour government, namely an increase in National Living Wage and packaging levies, Hamer said: “By protecting shops, the government can support retailers as they invest in keeping shops open, and keeping prices down.”