The headline rate of inflation for goods leaving the factory gate (output prices) rose 2.8% on the year to January 2018, down from 3.3% in December 2017. Prices for materials and fuels (input prices) rose 4.7% on the year to January 2018, down from 5.4% in December 2017. All industries provided upward contributions to output annual inflation; the largest contribution was made by food products. Prices of imported materials and fuels increased 3.5% on the year to January 2018, slowing from 5.2% in December 2017 and the lowest the rate has been since June 2016.
UK CPI unchanged in January
- Tuesday, Feb 13 2018
The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.7% in January 2018, unchanged from December 2017. The largest downward contribution to change in the rate came from prices for motor fuels, which rose by less than they did a year ago. The main upward effect came from prices for a range of recreational and cultural goods and services, in particular, admissions to attractions such as zoos and gardens, for which prices fell by less than they did a year ago. The Consumer Prices Index (CPI) 12-month rate was 3.0% in January 2018, unchanged from December 2017.