{"id":2180,"date":"2025-02-19T05:31:11","date_gmt":"2025-02-19T10:31:11","guid":{"rendered":"https:\/\/sharewatch.com\/wp\/2025\/02\/19\/uk-inflation-increases-to-3-in-january-ons\/"},"modified":"2025-02-19T05:31:11","modified_gmt":"2025-02-19T10:31:11","slug":"uk-inflation-increases-to-3-in-january-ons","status":"publish","type":"post","link":"https:\/\/sharewatch.com\/wp\/2025\/02\/19\/uk-inflation-increases-to-3-in-january-ons\/","title":{"rendered":"UK inflation increases to 3% in January &#8211; ONS"},"content":{"rendered":"<section class=\"medium-10 medium-offset-1 columns article-body\" itemprop=\"articleBody\" data-epic-field=\"content\">\n<p>British inflation sped up by more than expected to hit a 10-month high of 3% in January and it is likely to rise further soon, testing the Bank of England&#8217;s confidence that price pressures are on a downward path over the longer term.<\/p>\n<p>Economists polled by Reuters had expected a headline inflation reading of 2.8%, pushed up from December&#8217;s 2.5% rate by factors including an increase in a cap on bus fares and a tax hit to private school fees by the government of Prime Minister Keir Starmer.<\/p>\n<p>The Bank of England had also forecast a January inflation rate of 2.8%.<\/p>\n<p>The central bank expects consumer price inflation to peak at 3.7% in the third quarter of this year, driven mostly by higher energy costs and regulated tariffs for items such as domestic water supply.<\/p>\n<p>But Governor Andrew Bailey and his colleagues say a slowdown in the jobs market is likely to keep a lid on higher wage demands this year after an acceleration in late 2024, limiting the risk of a build-up of inflation pressure.<\/p>\n<p>Sterling rose after the figures were published before quickly settling back to its pre-release level.<\/p>\n<p>Services inflation &#8211; a key gauge of price pressures for the Bank of England &#8211; stood at 5% in January compared with 4.4% in December, the ONS said. The economists polled by Reuters and the Bank of England had forecast it would pick up by more to 5.2%.<\/p>\n<p>Core inflation, which excludes energy, food, alcohol and tobacco prices, rose to 3.7% from 3.2%. The Reuters poll had pointed to a reading of 3.7%.<\/p>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>British inflation sped up by more than expected to hit a 10-month high of 3% in January and it is likely to rise further soon, testing the Bank of England&#8217;s confidence that price pressures are on a downward path over the longer term. Economists polled by Reuters had expected a headline inflation reading of 2.8%, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[19,20],"tags":[],"class_list":["post-2180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news","entry","has-media"],"_links":{"self":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/2180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/comments?post=2180"}],"version-history":[{"count":0,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/2180\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media\/2181"}],"wp:attachment":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media?parent=2180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/categories?post=2180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/tags?post=2180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}