Sanjay Raja from Deutsche Bank wrote in a report that the rising inflation in the United Kingdom will make the country's central bank officials cautious. Raja stated that in November, the Consumer Price Index accelerated from 2.3% to 2.6%, and the core inflation rate increased to 3.5%. The increase could have been larger, but it will still make decision-makers uneasy. He said, "To be frank, the (Bank of England) Monetary Policy Committee is a long way from declaring victory over inflation."