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UK consumer price inflation accelerated at a faster pace than expected last month, numbers on Wednesday showed. According to the Office for National Statistics, the pace of yearly consumer price inflation picked up to 3.0% in January, from 2.5% in December. The reading topped the FXStreet cited consensus of 2.8%. It was the sharpest annual consumer price rise since March 2024’s 3.2% increase. In January 2024, the inflation rate was 4.0%. Transport, and food and non-alcoholic beverages provided the largest upward contribution to the consumer price inflation rate last month, the ONS said, while the largest downward contribution to both came from housing and household services. Annual core consumer price inflation picked to 3.7% in January from 3.2% in December. The measure excludes energy, food, alcohol and tobacco. Service price inflation accelerated to 5.0% from 4.4%. Consumer prices fell 0.1% in January from December. They had risen 0.3% monthly in December. The latest reading topped the FXStreet cited consensus, as a chunkier 0.3% price fall was forecast. UK producer prices decline on an annual basis in January but rose monthly. Producer prices fell 0.1% on-year in January, easing from a 1.3% decline in December. On a monthly basis, producer prices advanced 0.8% in January. They had risen 0.2% in December from November. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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