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Inflation jumps
Inflation rates in the year to November were even higher than expected. At 7.1%, Retail Prices Index (RPI) inflation is at its highest since 1989-1990.
Consumer Prices Index (CPI) inflation has only exceeded its November level of 5.1% twice since the series began in 1998 (September 2008 and September 2011). A “wide range of price rises” contributed to these figures, notably fuel, the Office for National Statistics said.