2/17, 8:00 AM (Source: TeleTrader)
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UK inflation rises 0.7% in January

The Consumer Price Index (CPI) in the United Kingdom climbed 0.7% per annum in January, the country's Office for National Statistics said on Wednesday. Core CPI was up 1.4% year-over-year, while the CPI including owner occupiers' housing costs (CPIH) rose 0.9%.

The increase in recreation and culture added the most to the monthly inflation, followed by housing and household services.

Producer price inflation was down 0.2% during the same month, marking the eleventh consecutive month that the rate was negative. Out of ten product groups, petroleum, alongside paper and printing products to a much lesser extent, contributed to the negative rate. The annual rate for goods purchased by manufacturers was up for the second month in a row, growing 1.3%.

Breaking the News / MD