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12 Dec 2017

Inflation rises to near six-year high

Business Editor

Households have just been given an early Christmas present they could do without – inflation hitting its highest level for nearly six years. The rise to 3.1 per cent for November has been fuelled by jumps in the prices of food, computer games, toys and air fares. Wage growth is lagging behind at 2.2 per cent. Now the Bank of England will have to write to the Chancellor to explain how it will bring inflation back in line with its target of 2 per cent.