UK inflation rate drops to 10.1% in January 2023
The consumer prices index (CPI) measure of inflation fell from 10.5% to 10.1% in January 2023, according to the Office for National Statistics (ONS).
Although inflation has dropped slightly, it is still substantially closer to its recent high of 11.1% in October 2022 than its August 2020 figure of 0.2%.
The retail prices index (RPI) was unchanged from December 2022 and remained at 13.4%.
To give you a better idea of recent inflation trends, the table below shows how CPI and RPI have varied over the last 3 years.
Farrell Financial Planning do not give advice on future inflation or interest rate movements. Farrell Financial Planning are independent financial advisers (IFAs) based in Glasgow, Scotland.
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All information is correct as at 15/02/23.