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December 20, 2023UK CONSUMER PRICE INDEX, NOVEMBER 2023 
UK Consumer Price Index including owner-occupiers' housing costs (CPIH) increased 4.2% year-over-year in November 2023, lower than the year-over-year pace of 4.7% in October 2023, and down from the recent peak in October 2022 (9.6%, the highest in 40 years). CPIH was the lowest in November 2023 since October 2021.
Owner occupiers' housing costs component accounts for 16% of the CPIH. It is the main driver for differences between the CPIH and CPI inflation rates. This makes CPIH the UK’s most comprehensive measure of inflation.
Year-over-year growth in the UK Consumer Price Index (CPI) was 3.9% in November 2023, lower compared to 4.6% in October 2023, and down from the most recent peak in CPI that occurred in October 2022 (11.1%).
The largest downward contribution came form transport, recreation and culture, and food and non-alcoholic beverages.
Sources: United Kingdom Office for National Statistics Statistical bulletin
Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted
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