UK inflation falls from 41-yr high to 10.7% in Nov giving relief to BoE

British inflation fell more sharply than expected in November to 10.7% from October's 41-year high of 11.1%, according to official consumer prices data that may offer some comfort to the Bank of England and hard-squeezed households.

Economists polled by Reuters had forecast the consumer price inflation rate would drop to 10.9%. Both U.S. and euro zone inflation fell more steeply than expected last month, raising hopes that the current wave of inflation may have peaked.
 

"Prices are still rising, but by less than this time last year with the most notable example of this being motor fuels," the Office