FTSE 100 Little Changed As Inflation Hits Nearly Six-year High

FTSE 100 Little Changed As Inflation Hits Nearly Six-year High

Figures from the ONS released this morning said the 12-month UK Consumer Prices Index (CPI) reached 3.1% in November, the highest level in five years and the first time it has risen above 3% since March 2012.

Inflation has delivered an unwelcome Christmas surprise for households, investors and the Bank of England as figures released today defy the consensus the United Kingdom consumer price index had peaked at 3 per cent.

Mark Carney, the governor of the Bank of England, will now have to write a letter to Chancellor Philip Hammond explaining how the Bank intends to bring inflation back to its 2% target.

Overall CPI inflation accelerated to 2.5 percent from 2.1 percent in November.

Anil Kapoor joins cast of Race 3 with Salman Khan
It has been reported that the clash between Salman Khan's " Race 3 " and Aishwarya Rai Bachchan's " Fanne Khan " has been averted. The film also stars Bobby Deol, Jacqueline Fernandez, Daisy Shah, Saqib Saleem and Freddy Daruwala along with various others.

Tullow Oil climbed 2 percent as Brent crude hit a more than two-year high after the closure of a major North Sea pipeline for fix.

Rising prices for a range of recreational and cultural goods and services, most notably computer games, also had an upward effect.

The inflation data comes only a day before the release of the latest snapshot of Britain's labour market, which is expected to show average weekly earnings excluding bonuses only grew 2.2% year-on-year in October. Despite the pressure, RBI had refrained from cutting interest rates since the last decrease in August, on account of inflationary trends.

Electricity generation rose 3.2 per cent in October as compared to 3 per cent a year ago. That's something that the Bank of England has indicated, too, in its quarterly economic projections.

Giants free agent target Shohei Ohtani signs with Los Angeles Angels
At the plate, Ohtani batted.322 in both 2017 and 2016, while also providing his team solid slugging in the mid.500s both seasons. Ohtani's most immediate impact is likely to be on an Angels rotation that had been ravaged by injuries in recent years.

Relative to October, inflation is likely to see a mild uplift from higher petrol prices.

He added that the prices of raw materials and goods leaving factories continued to increase as oil and petrol prices continued to rise.

"It's quite possible that inflation is now close to its peak", said Lucy O'Carroll, chief economist at Aberdeen Standard Investments.

Inflation rose at the highest rate in almost six years last month, according to ONS figures, with airfares and computer games contributing to the increase. Too much inflation could threaten the Bank's credibility and therefore its grip on the economy.

MI congressman John Conyers accused of sexually harassing staffer and her cousin
House Minority Leader Nancy Pelosi dug herself into a hole when she defended Conyers on Meet The Press . Ian Conyers told the newspaper that his great-uncle - the longest-serving current U.S.

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