The UK inflation rate fell to 3.6% in January, down from 4.2% in December, official figures show
Consumer Prices Index (CPI) inflation in the UK fell to 3.6% last month, according to the Office for National Statistics (ONS), while RPI inflation - including mortgage interest payments - fell to 3.9% from 4.8%. The ONS said inflation fell sharply as the impact of last year's VAT rise was no longer included in the figures. VAT rose from 17.5% to 20% in January 2011. Ian Kernohan, economist at Royal London Asset Management, said: "The sharp fall in the rate of UK CPI inflation in January is not a huge surprise, given that last year's rise in VAT has now dropped out of the annual compa...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes