British 12-month inflation dipped to 3.0 per cent in January from a rate of 3.1 per cent in December as the cost of energy slid, official data showed on Tuesday.
On a monthly basis, the Consumer Prices Index dropped by 0.7 per cent in January from December, the Office for National Statistics said in a statement.
The data was above economists' forecasts given by Dow Jones Newswires for an annual rise of 2.7 per cent and monthly drop of 1.0 per cent.
"The largest downward pressure on the CPI annual rate came from transport costs where the price of fuels and lubricants fell this year but rose last year," said the ONS.
"As an internationally comparable measure of inflation, the CPI shows that the UK inflation rate in December, at 3.1 per cent, was above the provisional figure for the European Union as a whole of 2.2 per cent," added the statistics office.
Meanwhile, the Retail Prices Index (RPI) annual inflation rate, which includes the cost of home loans, slowed to 0.1 per cent in January - the lowest level since 1960 - from 0.9 per cent in December.
"The main factors affecting the CPI also affected the RPI," said the ONS, adding: "Additionally, there was a large downward contribution from housing with the main effect coming from mortgage interest payments and house depreciation, which are excluded from the CPI."
On a monthly basis, the Consumer Prices Index dropped by 0.7 per cent in January from December, the Office for National Statistics said in a statement.
The data was above economists' forecasts given by Dow Jones Newswires for an annual rise of 2.7 per cent and monthly drop of 1.0 per cent.
"The largest downward pressure on the CPI annual rate came from transport costs where the price of fuels and lubricants fell this year but rose last year," said the ONS.
"As an internationally comparable measure of inflation, the CPI shows that the UK inflation rate in December, at 3.1 per cent, was above the provisional figure for the European Union as a whole of 2.2 per cent," added the statistics office.
Meanwhile, the Retail Prices Index (RPI) annual inflation rate, which includes the cost of home loans, slowed to 0.1 per cent in January - the lowest level since 1960 - from 0.9 per cent in December.
"The main factors affecting the CPI also affected the RPI," said the ONS, adding: "Additionally, there was a large downward contribution from housing with the main effect coming from mortgage interest payments and house depreciation, which are excluded from the CPI."
No comments:
Post a Comment