Paul Dales

U.K. annual inflation climbed further above the Bank of England's target rate in November, official data showed Wednesday, firming expectations that it will avoid cutting interest rates this week.

The Consumer Prices Index reached 2.6 percent in the 12 months to November, up from 2.3 percent for October, the Office for National Statistics (ONS) said in a statement.

Britain's economy rebounded in May, official data showed yesterday, dampening fears of a slowdown despite surging inflation and rising interest rates.    

Gross domestic product expanded 0.5 percent, the Office for National Statistics said in a statement, beating expectations of zero growth.