UK prices soar on Brexit

UK inflation hit its highest rate in more than two years last month, pushed up by more expensive clothing and the impact of June’s Brexit vote on the prices consumers paid for technology goods.

Consumer prices were 1.2% higher in November than a year earlier, up from 0.9% in October and the biggest increase since October 2014, the UK’s Office for National Statistics (ONS) said.

In a separate release, the ONS said prices paid by British factories for materials and energy fell more than 1% on the month but were up by nearly 13% compared with November 2015 — the biggest annual increase since October 2011.