Black Friday discounts help push UK inflation down in November

Inflation fell sharply last month as Black Friday discounting 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.

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.”

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”.

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.

The news follows a strong Black Friday performance across beauty on TikTok Shop.

Early consumer activity also contributed significantly, with sales in the week leading up to Black Friday matching the levels achieved on Black Friday 2024 itself.

Additionally, the number of active sellers grew substantially, with UK brands and merchants generating sales during the Black Friday period increasing by 85%.