UK inflation up in Jan, exceeding expectations

UK inflation accelerated with the Consumer Price Index (CPI) rising to 3.0 per cent in the 12 months to January 2025, up from 2.5 per cent in December, according to data from the Office for National Statistics (ONS) on Wednesday.

The increase, exceeding the Bank of England‘s expectations, was primarily driven by higher transport and food costs, while housing and household services exerted a downward pull.

On a monthly basis, CPI fell by 0.1 per cent, a smaller decline than the 0.6 per cent drop recorded in January 2024.

CPI, including owner occupiers’ housing costs, (CPIH) increased by 3.9 per cent in the 12 months to January 2025, up from 3.5 per cent in December 2024.

Core inflation, which excludes energy, food, alcohol, and tobacco, rose to 3.7 per cent from 3.2 per cent in December.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser