UK inflation at 2.6% in November...The best in 8 months.

Britain's consumer price index (CPI) growth was tallied at 2.6% a year in November, the Office for National Statistics said.

That was up from 2.3% the previous month and the highest figure in eight months since March this year, when it was tallied at 3.2%.

Higher car fuel prices and clothing costs led to higher prices.

Core consumer inflation, excluding food and energy, also rose to 3.5%, up from 3.3% in the previous month and service inflation remained at 5%, the same as the previous month.

In response, Bloomberg analyzed, "There has been growing concern that the UK economy will face a new year burdened with poor growth, high prices and so-called stagflation."

Estimates of gross domestic product (GDP) growth for September and October, compiled by the UK Office for National Statistics, are -0.1% respectively.

The Bank of England (BOE), the central bank of the United Kingdom, will hold a monetary policy committee meeting on the 19th local time to determine the benchmark interest rate.

Inflation has continued to top the central bank's 2% target over the past few months, weighing on the possibility of a rate freeze this time around.