UK consumer prices rose at the slowest pace in two years in January led by lower oil prices, and fell below the Bank of England's target, while core inflation remained steady.
The consumer price index rose 1.8 percent year-on-year following a 2.1 percent increase in December, figures from the Office for National Statistics showed Wednesday. Economists had expected 2 percent inflation. "The fall in inflation is due mainly to cheaper gas, electricity and petrol, partly offset by rising ferry ticket prices and air fares falling more slowly than this time last year," ONS Head of Inflation Mike Hardie said. Headline inflation was the slowest since January 2017, when prices rose at the same pace. Inflation peaked at 3.1 percent in November 2017.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.