In January, UK's annual inflation rate stayed at 4%, defying predictions of a rise, mainly due to housing, household services, and energy costs, while food and household goods prices decreased.

The UK's annual inflation rate remained unchanged at 4% in January, according to the Office for National Statistics. This follows predictions that the rate would rise, and although it remains higher than the Bank of England's target of 2%, the news has been seen as a positive sign. Inflation is largely attributed to the housing and household services sector, with higher energy costs playing a significant role. Despite this, lower food prices and a decrease in the cost of furniture and household goods have helped to offset these increases.

February 13, 2024
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