U.K. Inflation Rate Rises to Highest in a Year on Motor Fuel
- Core inflation slows to 1.2% from 1.4% as air fares tumble
- Inflation well below 2% target supports no BOE action on rates
Unleaded and diesel petrol pumps sit holstered at a Royal Dutch Shell Plc gas station in Brentwood, U.K., on Wednesday, Jan. 20, 2016. Shell, which is buying BG Group Plc in the industry's largest deal in a decade, expects fourth-quarter profit to drop at least 42 percent after the rout in crude prices deepened.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
U.K. inflation climbed to its highest in a year in January, driven by motor fuels, food and clothing.
Consumer prices rose an annual 0.3 percent following a 0.2 percent gain in December, in line with the median forecast of economists in a Bloomberg survey. Core inflation, which excludes volatile food and energy prices, slowed to 1.2 percent from 1.4 percent, the figures from the Office for National Statistics in London show.