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U.K. Inflation Pressures Slip

A leading indicator of underlying inflation in Britain fell in November for the first time in a year, a leading research body said on Friday.

The Economic Cycle Research Institute (ECRI), a New York-based body that specialises in monitoring turning points in the business cycle, said its Future Inflation Gauge fell to 104.9 in November from 105.6 in October.

"But this is just one month, it is too early to say inflation pressures have peaked already," said Anirvan Banerji, director of research at ECRI.

The official rate of underlying inflation, RPIX, which excludes mortgage interest payments, stood at 2.8 percent in November.