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18/02/2014
Inflation Falls Below BoE Target For First Time In Four Years
The UK's inflation rate has fallen below the Bank of England's target for the first time in over four years.
New figures from the Office for National Statistics show that in January the inflation rate, as measured by the consumer price index, fell to 1.9%, coming in below the BoE target of 2%.
It is understood that the fall in the inflation rate was due in part to a decrease in the cost of recreational and cultural activities, along with the impact of discounted furniture and household goods, and lower alcohol and tobacco prices.
The ONS figures also show that inflation as measured by the Retail Prices Index rose to 2.8% from 2.7% in December.
(MH)
New figures from the Office for National Statistics show that in January the inflation rate, as measured by the consumer price index, fell to 1.9%, coming in below the BoE target of 2%.
It is understood that the fall in the inflation rate was due in part to a decrease in the cost of recreational and cultural activities, along with the impact of discounted furniture and household goods, and lower alcohol and tobacco prices.
The ONS figures also show that inflation as measured by the Retail Prices Index rose to 2.8% from 2.7% in December.
(MH)
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