Annual inflation rate in the UK fell to 10.1% in January of 2023 from 10.5% in December, below market forecasts of 10.3%. Inflation fell for a third consecutive month to the lowest since September last year. The largest downward contribution came from transport (3.1% vs 6.5%), particularly passenger transport and motor fuels; and restaurants and hotels (10.8% vs 11.3%). Prices also rose at a slower pace for food and non-alcoholic beverages (16.7% vs 16.8%), clothing and footwear (6.2% vs 6.5%) and furniture (9.2% vs 9.8%), in line with traditional New Year discounting.

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UK Inflation rate to be 9.8% or more in February 2023 ?

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