Inflation remains just above the Government’s target rate, according to the latest official figures. The Office for National Statistics said underlying inflation for January remained unchanged at 2.6%, as against the target of 2.5%. The Retail Prices Index for January was 163.4, a 2.4% increase in January 1998 but 0.6% lower than December 1998.
The headline rate – which includes mortgage interest payments – fell from 2.8% in December to 2.4%, reflecting recent interest rate cuts by the Bank of England.
Subscribers can access RPI trends by selecting “Encyclomedia” from the drop-down box at the top of this page.
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