2024.02.1406:25:00UTC+00UK Inflation Steady At 4.0%

UK consumer price inflation remained unchanged in January, data from the Office for National Statistics showed on Wednesday.

The consumer price index advanced 4.0 percent on a yearly basis, the same rate as seen in December, while the rate was forecast to rise to 4.1 percent.

Month-on-month, the CPI fell 0.6 percent, in contrast to the 0.4 percent increase in the previous month. Economists had forecast a 0.3 percent drop.

Core inflation that strips out energy, food, alcohol and tobacco prices held steady at 5.1 percent in January. The core rate was seen at 5.2 percent.

Another data from the ONS showed that input prices posted an annual fall of 3.3 percent annually in January, worse than December's 2.1 percent decrease and economists' forecast of 3.0 percent fall.

At the same time, output prices slid 0.6 percent annually, reversing a 0.1 percent rise in December. Economists had forecast a decline of 0.5 percent.

On a monthly basis, the decline in input prices doubled to 0.8 percent from 0.4 percent. And output prices fell 0.2 percent following a 0.5 percent decrease.