UK inflation hits 10-month low
United Kingdom’s inflation rate fell to 3% in January, down from 3.4% in December, according to the Office for National Statistics (ONS). The decline was driven by lower food, fuel and airfare prices.
The ONS described the drop as “marked,” noting that it brought inflation to its lowest level since March 2025, News.Az reports, citing BBC.
Economists said the easing of price pressures increases the likelihood that the Bank of England could reduce interest rates at its March monetary policy meeting.
Despite the slowdown, prices are not falling overall. Instead, they continue to rise, but at a slower pace than in previous months.
Chancellor Rachel Reeves welcomed the fall, adding that "cutting the cost of living is my number one priority".
Reeves added: "Thanks to the choices we made at the budget we are bringing inflation down, with £150 off energy bills, a freeze in rail fares for the first time in 30 years and prescription fees frozen again."
Inflation has steadily been decreasing toward the Bank of England's 2% target.
News.Az
By Nijat Babayev
