U.K. inflation rate holds steady At 4%.

Inflation in the United Kingdom remained steady at 4% in January, according to the Office for National Statistics (ONS). This figure is lower than expected, which may lead to the Bank of England cutting interest rates at their May meeting. Lower food and non-alcoholic drink prices, as well as falling furniture prices, offset the rise in gas and electricity costs after the energy price cap increase. Additionally, the retail prices index fell to 4.9% in the year to January, down from 5.2% the month before.

February 14, 2024
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