THE UK’s inflation rate turned positive in November for the first time in four months, official figures show.

The rate, as measured by the Consumer Prices Index, rose to 0.1 per cent, the Office For National Statistics said.

Transport costs, alcohol and tobacco prices were the main contributors to the rise in the rate, the ONS said.

However, this was partially offset by a drop in clothing prices, which for the first time fell between October and November.

This is usually the time prices rise as shoppers buy Christmas gifts.

The ONS said that it logged prices before Black Friday sales discounts took effect.

Monthly inflation has been between -0.1 per cent and 0.1 per cent for the past 10 months, with low oil prices and a fiercely competitive environment for supermarkets keeping prices down for consumers.

November’s inflation rate compares with a rate of -0.1 per cent a month earlier. Analysts had expected a figure of about zero.

Last week, UK interest rates were left unchanged again at 0.5 per cent by the Bank of England’s rate-setters.

The nine policymakers on the Monetary Policy Committee voted 8-1 for no change, with the Bank predicting that inflation will stay below one per cent until the second half of next year.

Inflation remains well below the Bank’s two per cent target.

And the absence of inflationary pressures has led analysts to push back their estimates of when UK interest rates might rise.

“UK inflation remained largely absent in November, and looks set to remain weaker for longer than forecasters have recently been expecting,” said Chris Williamson, the chief economist at data firm Markit.

“Falling prices for oil and other commodities are helping drive down companies’ costs.

“Weak wage pressures and fierce competition in the retail sector are also helping keep a lid on prices.

"Hence clothing prices showing a record fall between October and November.”

Ben Brettell, the senior economist at broker Hargreaves Lansdown, said that while core inflation – which strips out volatile components such as food and energy – had risen slightly, it remained weak at 1.2 per cent.

“This offers little suggestion that underlying inflationary pressures are building in the UK economy," he said.

"Furthermore there are signs that wage growth is flattening out - figures due out soon are expected to show pay growth has slowed from 3.0 per cent to 2.5 per cent.”

Inflation as measured by the Retail Prices Index was 1.1 per cent, up from 0.7 per cent in October.

RPI includes housing costs such as mortgage interest payments and council tax, whereas CPI does not.

The UK's recent growth, employment progress and deficit reduction have been strong, the International Monetary Fund has said.

Underlying economic vulnerabilities have been addressed, and steady growth looks set to continue, it said.

But high household debt, a strikingly large trade deficit and high Government debt are still risks to the economy. It also warned about uncertainty over whether the UK would stay in the EU.

"Trade would be harder, tariffs would be higher, and the financial fluidity within the European Union would not be as good as it is at the moment, should the UK leave the EU," the IMF's Christine Lagarde said.

She said the IMF was in favour of opening up trade, removing barriers, and the mobility of goods, capital and people.

"[The EU] has proven effective over the years," she said.