Inflation has increased over the past month, putting further pressure on the Bank of England to raise interest rates. The November underlying rate of inflation was unchanged at 2.2%, according to figures released by the Office for National Statistics this morning. However, the headline rate of inflation was 1.4% year-on-year, up from 1.2% in October. The Retail Prices Index for November was 166.7, up 0.1% on last month.
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