Inflation Explained: Will inflation remaining at 4% affect the UK's cost of living crisis?

The first monthly fall in food prices in over two years helped inflation undershoot economists’ expectations in January despite higher energy costs, new statistics show. According to figures from the Office for National Statistics (ONS), the consumer price index (CPI) stood at four per cent in January, undershooting City expectations of an increase to 4.2 per cent. Core inflation – which strips out volatile components and is seen as a more accurate gauge of inflationary pressures – was also flat at 5.1 per cent. Economists expected it to rise to 5.2 per cent. Read the full story ⬇️ https://www.cityam.com/inflation-comes-in-below-expectations-at-four-per-cent-in-january/ Get more of City A.M. ⬇️ 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: http://www.linkedin.com/company/cityam #inflation #personalfinance #energyprices #foodprices #bankofengland #ukeconomy #uknews #cityam