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UK inflation stabilizes at 3%

13 Feb 2018 12:17 PM

Inflation in the UK in January was the same as in December, with the consumer price index rose by 3%, versus expectations of a slowdown of 2.9%.

Thereby keeping inflation close to a 6-year high of 3.1% that came in November, which on its impact the Bank of England raised interest rates to 0.5%.

At BoE meeting last week, it indicated that interest rates may rise sooner and faster than expected under the Bank's desire to return inflation near 2% levels.

Markets are pricing in the Bank of England raising interest rates next May, with another hike later this year, possibly in November.

On the other hand, the core consumer price index rose by 2.7% in January, against expectations of a rise of 2.6%, while the December reading rose by 2.5%.

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