london skyline

United Kingdom Inflation January 2020

United Kingdom: Inflation jumps in January but stays below-target

Consumer prices declined 0.3% month-on-month in January, following December’s flat reading. January’s figure was driven by lower prices for food and clothing.

Inflation rose from 1.3% in December to 1.8% in January on higher fuel prices, marking a six-month high and above market expectations, but still below the Bank of England’s (BoE) 2.0% target. Core inflation—which excludes food and energy costs—was also up, to 1.6% in January from 1.4% in December. Coupled with stronger economic activity at the outset of the year, higher inflation could discourage the BoE from cutting rates in the near-term.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen