Black Friday discounts help push UK inflation down in November

Inflation fell sharply last month as Black Friday discounting on clothes and shoes helped ease the cost of living for households across the UK, new official figures showed.

The rate of Consumer Prices Index (CPI) inflation fell to 3.2% in November, from 3.6% in October, the Office for National Statistics (ONS) said.

This marks the lowest CPI rate since March this year and a bigger drop than the 3.5% that most economists were expecting for the month.

It means that prices are still rising across the country, but at a slower rate than they were before.

The ONS pointed to more Black Friday discounting on clothes and shoes this year, which helped bring down prices by 0.3% between October and November.

The biggest falls came from women’s clothing across a range of items, including trousers and skirts.

Chancellor Rachel Reeves said lowering household bills was a “top priority” after the latest inflation data was released.

She said: “I know families across Britain who are worried about bills will welcome this fall in inflation.

“Getting bills down is my top priority. That is why I froze rail fares and prescription fees and cut £150 off average energy bills at the Budget this year.

“The Bank of England agree this will help cut prices and expect inflation to fall faster next year as a result.”

ONS Chief Economist Grant Fitzner said: “Inflation fell notably in November to its lowest annual rate since March.

“Lower food prices, which traditionally rise at this time of the year, were the main driver of the fall, with decreases seen, particularly for cakes, biscuits and breakfast cereals.

“Tobacco prices also helped pull the rate down, with prices easing slightly this month after a large rise a year ago. The fall in the price of women’s clothing was another downward driver.

“The increase in the cost of goods leaving factories slowed, driven by lower food inflation, while the annual cost of raw materials for businesses continued to rise.”

Kris Hamer, Director of Insight at the British Retail Consortium (BRC), said the fall in inflation was driven by “extensive discounting by retailers across Black Friday month”.

“With many customers kicking off their Christmas shopping, there will have been relief to see the price of clothing and footwear fall on the year,” he said.

The ONS’s preferred measure of inflation, Consumer Prices Index including occupiers’ housing (CPIH), fell to 3.5% in November, from 3.8% in October.

Meanwhile, the Retail Prices Index (RPI) rate of inflation slowed to 3.8% from 4.3% in October.