UK consumer price inflation eased to a ten-month low in January on weaker fuel and food costs, raising expectations of an interest rate reduction by the Bank of England.
The consumer price index posted an annual increase of 3.0 percent, the Office for National Statistics reported Wednesday. This was the lowest inflation since March 2025, when it stood at 2.6 percent.
January's rate came in line with expectations and followed December's 3.4 percent increase.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.