UK inflation slows to 1.8% in January


In January, in the UK, there was recorded an inflation slowdown to 1.8% from 2.1% a month earlier. The report of the Office for National Statistics notes that January inflation was the lowest in two years, being below the target level of the Bank of England at 2% for the first time in this period. Experts had predicted its decline to 1.9%. Compared to December, consumer prices fell by 0.8%, while economists had expected a decline of 0.7%. The CPI Core price index, which does not include the prices of energy, food, alcohol and tobacco, was at the level of 1.9%, confirming market forecasts. Compared with December, food and non-alcoholic beverages went up by 0.1%. At the same time, prices fell for clothes, shoes, transportation services and housing.

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