Posted 2/14/2024, 9:59:04 AM
UK Inflation Steady at 4% in January As Falling Food Prices Offset By Housing Costs
- UK inflation remained at 4% in January, unchanged from December
- Food prices fell 0.4% in January, the first monthly drop since Sept 2021, due to decreases in items like bread, cereals, biscuits
- Furniture prices dropped in January as retailers discounted unsold holiday items
- Rising housing/utility costs continued to drive inflation up, offsetting the food price declines
- Core inflation held steady at 5.1% in January, indicating underlying price pressures remain high
