Inflation eased to 10.1% in January (December: 10.5%). January’s result represented the lowest inflation rate since August 2022 and was below market expectations. Price pressures will ease further this year on soft economic momentum, milder commodity price pressures and a tougher base effect. However, inflation will remain over double the Bank of England’s 2.0% target.
United Kingdom SONIA Rate (%, eop) Data
| 2017 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|
| SONIA Rate (%, eop) | 0.41 | 0.70 | 0.71 | 0.04 | 0.19 |