Inflation plunges to 1.8 per cent as lower energy and fuel prices drags the rate below Bank target

Mail Online | 2/14/2019 | Tim Sculthorpe, Deputy Political Editor For Mailonline
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Inflation plunged to 1.8 per cent in January the lowest rate for two years, official statistics revealed today.

It is the first time since January 2017 the pace of price rises is below the official Bank of England target of 2 per cent.

Boost - Workers - Wages - Cent - Figures

It is also a further boost for workers as wages are continuing to increase at more than 3.3 per cent, the latest figures revealed last week.

Inflation was dragged down by lower energy and fuel prices. Figures from the Office for National Statistics (ONS) show the Consumer Prices Index (CPI) fell from 2.1 per cent in December.

January - Inflation - Economists - Expectations - Bank

January inflation missed economists' expectations and the central bank's target of 2 per cent. Sterling held firm after the news, at 1.289 US dollars and 1.138 euros.

Inflation was pulled lower by a decline in electricity, gas and other fuel prices between December and January, which was partially offset by lower air fares.

Driver - Inflation - Energy - Price - Cap

The main driver for inflation was the new energy price cap on standard variable tariffs recently introduced by energy...
(Excerpt) Read more at: Mail Online
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