Pound steady as UK inflation remains unchanged

<p>The pound is steady in forex trading as UK inflation stayed the same last month.</p>

The pound is steady in forex markets this morning (December 18th) after official figures show that inflation stayed the same in November.

According to the Office for National Statistics, UK consumer prices inflation remained unchanged at 2.7 per cent last month compared to in October.

The most marked price increases were seen in the cost of groceries including bread, cereals and fruit, as well as utility bills.

Petrol, diesel and air fares fell in November compared to the previous month, while beer and carpets also slipped in price.

The statistics bureau revealed the retail prices index inflation rate – which includes housing costs – declined to three per cent last month from 3.2 per cent in October.

Many analysts believe inflation in the UK will climb higher in 2013 as further rises in electricity and gas prices take effect.

At 10:55 GMT, the pound rose by 0.1 per cent in trading with the dollar to £1 buying $1.622, while it was steady against the euro to €1.229.

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