UK inflation has remained unchanged at 4%, surprising economists who had predicted a small increase to 4.2% reports The Guardian. The figures showed the first monthly fall in food prices for more than two years. Food and non-alcoholic drink prices fell at a monthly rate of 0.4% in January, the first monthly decline since May 2021, driven by price cuts in January for bread and cereals, cream crackers, sponge cake and chocolate biscuits. That offset the rise in gas and electricity costs after the Great British energy regulator raised its price cap. Click below for full storyhttps://www.theguardian.com/business/live/2024/feb/14/uk-inflation-energy-bills-bank-of-england-andrew-bailey-eurozone-gdp-euro-sterling-interest-rates-business-live

Source: The Guardian February 14, 2024 11:57 UTC