The United Kingdom's Consumer Price Index (CPI) rose 4% in January compared to the same month a year ago, the Office for National Statistics reported on Wednesday. The figure is unchanged from December's inflation rate and is lower than analysts had anticipated.
The largest downward contribution to the annual inflation rate came from furniture and household goods, and food and non-alcoholic beverages. On the other hand, rising prices for housing and household services made an upward contribution to the index.
On a monthly basis, consumer prices declined 0.6% in the first month of 2024, while the Consumer Prices Index including owner occupiers' housing costs (CPIH) climbed 4.2% year on year, but was down 0.4% month on month.
