
UK inflation drops sharply to 3.2% in November: a “Christmas gift” for the BOE or just a temporary cool-down?
In November 2025, the UK received a clear signal that price pressures are easing: headline CPI fell to 3.2% year on year, down from 3.6% in October, and below the market’s consensus expectation. Core inflation (core CPI) which excludes energy, food, alcohol and tobacco also eased to 3.2%.







