Inflation & Prices
UK Inflation Slows More Than Expected on Cheaper Fuel
- Petrol and air travel costs dip, and core inflation falls
- Prices are still rising at double-digit pace five times target
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The UK’s inflation rate slowed for a third month but remained stubbornly in double digits five times above the Bank of England’s targeted level.
The Consumer Prices Index rose 10.1% from a year ago in January, the lowest since September, and down from 10.5% the month before and a 41-year high of 11.1% in October. Economists had expected a slight slowdown to 10.3%.