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UK inflation eases but little relief at near 40-year high

Associated Press

LONDON (AP) — U.K. inflation has eased in November but is still stuck near a 40-year high. The Office for National Statistics said Wednesday that consumer prices rose 10.7% in the 12 months through November, down from 11.1% in October. The figures offer little relief for consumers as the high cost of food and energy erodes spending power. Inflation is stubbornly high across Europe, where it slowed in the 19 countries that use the euro last month but was still a painful 10%. That contrasts with the U.S., where the inflation rate dropped to 7.1% in November from a recent peak of 9.1% in June.

Article Topic Follows: AP National News

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