British Inflation Shoots above Key 3.0 Percent Level

British inflation has hit its highest level in almost six years, official data showed Tuesday, forcing Bank of England governor Mark Carney to explain the rise in an exceptional letter. 

The Consumer Price Index 12-month rate climbed to 3.1 percent in November compared to 3.0 percent in October, the Office for National Statistics (ONS) said in a statement. 

Analysts' consensus forecast had been for no change to the CPI reading.

Carney is legally required to send an explanatory letter to British finance minister Philip Hammond, explaining why inflation overshot by more than one percentage point the Bank of England's 2.0-percent target rate.

The headline measure for November was spurred on by the high price of air fares, recreational goods and the rising cost of food and non-alcoholic drinks, the ONS said.