UK inflation falls less than expected in Nov .hurriyet2008-detailbox-newslink { font-family: Arial, Helvetica, sans-serif; font-size:13px; font-weight:bold; text-decoration:none; color:#000000;} .hurriyet2008-detailbox-newslink:hover { font-family: Arial, Helvetica, sans-serif; font-size:13px; font-weight:bold; text-decoration:underline; color:#990000;} British inflation slowed less than expected in November, official data showed on Tuesday, but is still forecast to fall sharply soon because of a cut in sales tax and falling fuel prices.

The Office for National Statistics said consumer prices fell 0.1 percent last month to bring the annual rate down to 4.1 percent from 4.5 percent in October.
That was the lowest rate since June but still more than double the Bank of England's 2.0 percent target and above forecasts for a reading of 3.9 percent.
Policymakers are convinced, however, that inflation is no longer a threat and recession poses the far greater danger. As such, the data are unlikely to alter expectations of further aggressive interest rate cuts in the coming months.
The ONS said the biggest downward effect on CPI came from transport costs which knocked 0.45 percentage points off the annual rate as fuel prices fell sharply.
The main upward effect came from food prices as fruit inflation doubled to 10.8 percent.
The ONS said retail price inflation, on which many wage deals are based, fell to 3.0 percent -- the weakest rate since May 2006.