U.K. inflation unexpectedly cooled in January, slowing to below the Bank of England’s 2 percent target for the first time since November 2009.
Consumer prices rose an annual 1.9 percent, down from 2 percent in December, the Office for National Statistics said today in London.Today’s report showed that consumer prices fell 0.6 percent in January from December, the biggest monthly decline since January 2009. The core annual inflation rate slipped to 1.6 percent from 1.7 percent, the lowest since June 2009.
Retail-price inflation, a measure used in wage negotiations and as a basis for the inflation-linked bond market, accelerated to 2.8 percent in January from 2.7 percent in December. Inflation by that measure excluding mortgage-interest costs was also 2.8 percent.
Consumer prices rose an annual 1.9 percent, down from 2 percent in December, the Office for National Statistics said today in London.Today’s report showed that consumer prices fell 0.6 percent in January from December, the biggest monthly decline since January 2009. The core annual inflation rate slipped to 1.6 percent from 1.7 percent, the lowest since June 2009.
Retail-price inflation, a measure used in wage negotiations and as a basis for the inflation-linked bond market, accelerated to 2.8 percent in January from 2.7 percent in December. Inflation by that measure excluding mortgage-interest costs was also 2.8 percent.