LONDON: Britain's annual rate of consumer price inflation rose to 0.3 per cent in January from 0.2 per cent in December — the highest level in a year. The Office of National Statistics said on Tuesday the main contributors were motor fuels. Though oil prices have remained low, they fell more sharply in January 2015 than in January 2016. A drop in airfares also offset the rise. Nonetheless, the rate of inflation remains well short of the Bank of England’s two per cent target. That is keeping pressure off policymakers, who are in little hurry to raise interest rates from a record low 0.5 per cent.
UK inflation at 0.3pc
Published: 09:49 am Feb 17, 2016