United Kingdom: Inflation continues its ascent in January
February 14, 2017
Consumer prices dipped 0.5% in January compared to the previous month, contrasting December’s 0.5% rise. January’s drop reflected a fall in prices for transport and clothing and footwear, while food prices remained unchanged.
Inflation ticked up to 1.8% in January from 1.6% in December, marking the highest figure since June 2014 but coming in slightly below analysts’ expectations of a 1.9% rise. Annual average inflation also inched up, rising to 0.8% in January from 0.7% in the prior month.
Author: Oliver Reynolds, Economist