Market News
UK inflation hits lowest in nearly a year at 3.0%, strengthening bets on a BoE rate cut - REUTERS
Summary
- CPI 3.0% in January vs 3.4% in December
- Reading matched median Reuters poll forecast
- Core inflation weakest since 2021 at 3.1>#/li###
- Food price growth slowest since April 2025
- Services inflation only edges down to 4.4>#/li###
LONDON, Feb 18 (Reuters) - British inflation fell to its lowest since March last year, according to official data that added to expectations of an interest rate cut soon by the Bank of England, even as a measure of underlying price pressures remained strong.
Consumer prices rose by 3.0% in annual terms in January, slowing sharply from a 3.4% increase in December, the Office for National Statistics said on Wednesday, as transport, food and non-alcoholic drink prices increased less quickly.
