UK inflation falls by more than expected to 3.2%, adding to case for interest rate cut

Slowing pace of price rises in November makes Bank of England cut to cost of borrowing on Thursday more likelyUK inflation significantly cooled in November to 3.2%, official figures show, strengthening the case for the Bank of England to cut interest rates on Thursday.In a crunch week for the economy, the Office for National Statistics said the annual inflation rate as measured by the consumer prices index eased last month from a reading of 3.6% in October, overshooting City forecasts of a modest drop to 3.5%. Continue reading...