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00:00 British inflation plunged in November to its lowest rate in more than two years.
00:06 Official data out Wednesday show the annual rate of increase in the Consumer Prices Index
00:11 dropped to 3.9% from October's 4.6%.
00:15 Transport, particularly motor fuels, was the biggest contributor to the fall.
00:21 The reading was below all forecasts in a Reuters poll of economists.
00:26 Key measures watched closely by Britain's central bank, including core and services
00:30 inflation, also dropped.
00:33 The numbers left investors betting on the Bank of England cutting interest rates next
00:37 year perhaps as soon as May.
00:39 British inflation is now closer to other rich nations and matches that of France.
00:45 But consumer prices have risen since 2020 by a fifth more than any other group of seven
00:50 advanced economy.
00:52 One leading analyst said Wednesday's numbers showed strong evidence disinflationary pressures
00:57 are building in the UK.
00:59 A much smaller rise in food and drink prices than in November last year also helped, although
01:05 those prices are still 27% higher than two years ago.
01:09 Finance Minister Jeremy Hunt said the data showed inflation pressures were being removed
01:14 from the economy, while the opposition Labour Party said people were worse off after 13
01:19 years of Conservative government.
01:21 [BLANK_AUDIO]