Economic Buzz: UK Consumer Prices Accelerate In January

16 Feb 2022 , 01:27 PM

UK consumer price inflation rose to 5.5 percent in January from 5.4 percent in December, the Office for National Statistics said Wednesday. The rate was forecast to remain unchanged at 5.4 percent. This was the highest inflation rate in the National Statistic series, which began in January 1997, and it was last higher in the historical modeled series in March 1992, when it stood at 7.1 percent. On a monthly basis, consumer prices fell 0.1 percent, in contrast to the 0.5 percent rise in December. Prices were expected to drop 0.2 percent. Core inflation that excludes energy, food, alcoholic beverages and tobacco, advanced to 4.4 percent from 4.2 percent in the previous month.

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