UK inflation rises to 3% in January as core CPI surges

On a monthly basis, CPI fell by 0.1 per cent in January compared with a 0.6-per cent fall in the same month last year.

Core CPI (excluding energy, food, alcohol and tobacco) rose by 3.7 per cent in the 12 months to January 2025, up from 3.2 per cent in December 2024.

The CPI goods annual rate rose from 0.7 per cent to 1 per cent.

Producer input prices fell by 0.1 per cent in the year to January 2025 compared with a revised fall of 1.3 per cent in the year to December 2024.

Producer output (factory gate) prices rose by 0.3 per cent in the year to January, up from a revised fall of 0.1 per cent in the year to December 2024.

On a monthly basis, producer input prices rose by 0.8 per cent and producer output prices rose by 0.5 per cent in the month, an ONS release said.

ALCHEMPro News Desk (DS)