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U.K. Inflation Accelerates at Fastest Pace in a Decade
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LONDON—Inflation in the U.K. accelerated in November to its fastest annual rate in more than a decade, propelled by supply-chain disruptions and higher energy costs that are pushing up consumer prices across many advanced economies.
The pickup in inflation will test the Bank of England, which is juggling the risk of a sustained bout of price-growth against renewed economic uncertainty caused by the Omicron variant of coronavirus. Officials are expected to keep their benchmark interest rate on hold when they announce their latest policy decision Thursday, but most economists expect a rate increase early in 2022.
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