UK inflation cools markedly in January, boosting odds of Bank of England rate cut

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The U.K. inflation rate cooled to 3% in January, according to the latest figures from the Office for National Statistics (ONS). Economists polled by Reuters had expected the consumer price index to fall to 3%, down from 3.4% in the twelve months to December. Core inflation, excluding energy, food, alcohol, and tobacco, stood at 3.1% in January, down from 3.2% in December . The fall in Inflation, to its lowest annual rate since March 2025, was driven partly by a decrease in petrol prices, the

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