Pedestrians pass the solemnly decorated luxury arcade of Burlington Arcade in London in the UK, on Monday, December 4, 2023. Inflation at the UK stores fell to a 17-month-old level while the merchants are fighting to attract customers ahead of key rest. Photographer: Jason Alden/Bloomberg via Getty Images
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Annual inflation in the UK increased to 3% in January, coming to the above -expected analysts, according to data published by the National Statistics Office on Wednesday.
The economists surveyed by Reuters expected a 2.8%reading reading in January.
Consumer prices (CPI) British index dropped to 2.5% lower than expected in December, and the basic price increase is also slow.
The inflation rate in the UK in September reached more than a three -year -old low than 1.7%, but monthly prices were picked up because they were growing faster than the price of goods on the back of the higher fuel costs and services.
Earlier in February, slow growth and Recent fall in inflation encouraged the Bank of England In order to make your first decrease in interest rates of the yearlowering reference rates to 4.5%.
The central bank signaled further pruning of the rate, but noted that there are higher global energy costs and regulated prices changes It is expected to push the head inflation to 3.7% in the third quarter of 2025.“Even if the basic domestic inflationary pressures are expected to go on.” Boe expects the rate of inflation To return to a goal of 2% by 2027.
Together with the list of prices for the price growth, the central bank also halved the forecast of economic growth in the UK with 1.5% to 0.75% this year.
This news of news is updated.
