UK inflation falls to record low in January

FXStreet (Mumbai) - The data released by the Office for National Statistics (ONS) showed today that the Consumer Prices Index (CPI) grew by 0.3% in the year to January 2015 from 0.5% in December 2014.

Month-on-month price pressures declined 0.9%, compared to the expected fall of 0.8%. The decline in the inflation was mainly due to 16.2% fall in motor fuels and a 2.8% fall in food prices. Meanwhile, clothing prices fell by 3.7% between December 2014 and January 2015, compared with a larger fall of 5.4% between the same two months a year ago.

Meanwhile, core inflation printed in line with the expectations at 1.4% in January.