UK inflation holds steady at 2.1%
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UK inflation stays at 2.1% in November, official figures show, as lower utility bills offset higher petrol prices.
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Inflation looks set to remain above the government's 2% target when the latest figures are released later on Tuesday.
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British 12-month inflation rose to 2.5 percent in August from 2.4 percent the previous month.
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The Bank of England's rate-setters keep interest rates unchanged at 5.25%.
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The European Central Bank keeps eurozone interest rates unchanged at 2% for the sixteenth month in a row.
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Britain&#39;s economy would continue to grow at a healthy pace over the next two years, but vigilance was required over inflation, the OECD said Thursday.
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The Bank of England held its benchmark interest rate steady at a six-year high of 5.5 percent after reports that price inflation is slowing in the services and housing sectors. The bank raised rates last month after three other rises since August apparently failed to cool inflationary pressures and a buoyant housing market. Even after the European Central Bank raised rates Wednesday by a quarter-point, to 4 percent, Britainâs rates remain the highest among the worldâs seven wealthiest nations. Most economists expect a rise of a quarter of a percentage point next month in British rates. as the Bank of England tries to bring consumer price index inflation back to its 2 percent target from its current level of 2.8 percent.
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The Bank of England held its key interest rate steady at 4.75 percent Thursday.
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UK house-price inflation slowed for a second month in August, suggesting higher borrowing costs are deterring buyers, a survey by property Web site Hometrack showed.
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The pound remained firm but was off the series of 26-year highs posted earlier against the dollar with the US Independence Day holiday and Thursday&#39;s interest rate decisions in the euro zone and UK preventing any major movements in the currency markets.
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UK inflation remained level in December, holding at 2.1% for the third month in a row, official figures show.
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UK house prices rose by 1.2% during April, government figures show.
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The Bank of England has kept interest rates unchanged at 5.25 percent, opting for a wait-and-see approach on the economy after January's surprise hike had rattled financial markets.
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The Bank of England is expected to leave interest rates unchanged after the latest meeting of its Monetary Policy Committee.
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Cheaper food and energy helped drag Britain's inflation rate down to 2.5% last month.
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UK inflation rose to 2.2% in January, up from 2.1% in December, as transport costs rose, official figures show.
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The pound held firm against the dollar and euro on Friday after a robust wages survey indicated that the Bank of England will continue to trim interest rates as it tries to keep a grip on inflationary pressures in the British economy.