The UK’s inflation rate has eased back for the third straight month to 10.1 percent in January, but the government warned that the fight against inflation is “far from over.”
According to the Office for National Statistics (ONS), the Consumer Prices Index (CPI) rose by 10.1 percent in the 12 months to January 2023, down from 10.5 percent in December 2022.
On a monthly basis, CPI fell by 0.6 percent in January 2023, compared with a fall of 0.1 percent in January 2022.
ONS chief economist Grant Fitzner said: “Although still at a high level, inflation eased again in January. This was driven by the price of air and coach travel dropping back after last month’s steep rise. Petrol prices continue to fall and there was a dip in restaurant, cafe and takeaway prices….