CPI inflation has spiked upwards for the second month in a row, to 2.6% in November, ONS reported today.

Lower fuel and transport costs helped cut CPI inflation in the 12 months to September to 1.7% from 2.2% in August.

CPI inflation unexpectedly spiked upwards last month to 2.3% from a low of 1.7% the previous month, ONS reported today.

CPI inflation remained at 2.2% in August, unchanged from the previous month.

The Bank of England's Monetary Policy Committee (MPC) has voted 8-1 to hold the base rate at 5% in a widely expected decision.

The Bank of England's Monetary Policy Committee (MPC) has today voted to cut the base rate from 5% to 4.75%.