Britain’s inflation rate fell for a 3rd successive month in January, enhancing optimism that the cost-of-living crisis has peaked and rates will fall dramatically lateron this year
LONDON — Britain’s inflation rate fell for a 3rd successive month in January, increasing optimism that the cost-of-living crisis has peaked and costs will fall dramatically lateron this year.
Inflation relieved to 10.1% in the 12 months through January, from 10.5% a month earlier, the Office for National Statistics stated Wednesday. The customer rates index peaked at 11.1% in October.
The Bank of England projections costs will fall quickly in the 2nd half of this year as energy expenses start to moderate and rate increases activated by Russia’s intrusion of Ukraine drop out of inflation computations.
But the figures deal no instant relief to customers squeezed by inflation th