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UK inflation remains unchanged at 4% in year to January

Written by Michael Griffiths
14/02/2024

The UK’s headline rate of inflation remained at 4% in the year to January, a level unchanged from the rate in the 12 months to December 2023.

According to new figures published by the Office for National Statistics (ONS), Consumer Prices Index (CPI) inflation also fell by 0.6% on a monthly basis in January.

While inflation remains at twice the rate of the Bank of England’s 2% target, there had been many economic forecasters expecting a small rise in January’s rate of annual price increases, amid higher gas and electricity charges.

The unchanged annual rate between December and January was a result of the 0.6% fall in prices on the month, which the ONS data showed was the same rate of change as it was between December and January a year ago.


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