UK inflation cools markedly in January, boosting odds of Bank of England rate cut

From cnbc.com

The U.K. inflation rate cooled to 3% in January, according to the latest figures from the Office for National Statistics (ONS). Economists polled by Reuters had expected the consumer price index to fall to 3%, down from 3.4% in the twelve months to December. Core inflation, excluding energy, food, alcohol, and tobacco, stood at 3.1% in January, down from 3.2% in December. The fall in Inflation, to its lowest annual rate since March 2025, was driven partly by a decrease in petrol prices, the ONS' Chief Economist Grant Fitzner said in comments on X. "Airfares were another downward driver this month with prices ... (full story)