UK inflation data leaves Starmer miles off goal of growth ‘felt in people’s pockets’
by Heather Stewart Economics editor from Economics | The Guardian on (#6T0MG)
Increase extinguishes expectations of interest rate cut this week and underlines tough challenges policymakers face
Keir Starmer's latest milestone" for the economy is growth that can be felt in people's pockets". News that inflation hit 2.6% in November, and is heading in the wrong direction, underlined just how far there is to go.
The latest inflation data extinguished any lingering expectations of a rate cut this week - and there were some worrying signs in the detail for policymakers that could result in borrowing costs being on hold for some time to come.
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