UK inflation up to 5.5% in January
The United Kingdom’s Consumer Price Index (CPI) increased to 5.5% in January compared to the same month a year ago, the Office for National Statistics reported on Wednesday. The figure marks an increase from December when annual inflation in the UK stood at 5.4%.
On a monthly basis, consumer prices were down 0.1% in January, while the Consumer Prices Index including owner occupiers’ housing costs (CPIH) climbed 4.9% year on year and remained unchanged month on month.
The largest upward contributions to the index came from housing and household services and transport, particularly motor fuels and second-hand cars.
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