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2/19/2020, 10:32 AM (Source: TeleTrader)
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UK consumer prices rise further in January

United Kingdom headline inflation accelerated to 1.8% in January, according to the latest report from the Office for National Statistics (ONS) released on Wednesday. The consumer price index (CPI) including owner occupiers' housing costs showed an increase of 1.8% in January 2020, compared to the reading of 1.4% in December 2019.

The January inflation rate advanced in January due to an increase in prices for housing, electricity, water and gas, which increased by 0.19 percentage points compared to the earlier month. At the same time, the largest contributors to higher inflation on a yearly basis came from gas and electricity prices, as well as fuels and lubricants, clothing and airfares. The CPI year on year, excluding owner occupiers’ housing costs, showed an increase of 1.8% in January 2020, a rise from 1.3% in December 2019.

On a monthly basis, consumer prices dropped by 0.2%, while year on year, the prices in January 2020 decreased 0.6% compared to January a year earlier.

Baha Breaking the News (BBN) / BJ