UK inflation rises to 3% in January

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Inflation in the UK rose more than expected to 3 percent in January, highlighting the challenge facing England, as it ripens with persistent price pressures and poor economy.

The National Statistics Office said on Wednesday that the annual rate of price growth was above 2.5 percent registered in December and 2.8 percent expectations by Reuters economists. It was much higher than the last minimum of 1.7 percent in September.

This increase was driven at higher costs for private schools after the government imposed a value -added tax on fees, high food costs, non -alcoholic drinks and air prices that decreased less than usual in January.

The Bank of England said this month that price pressures were on a “rugged path” as I expected Economic inflation It will rise to 3.7 percent in the middle of the year, by paying high global energy costs. The central bank said it expected inflation to return later to about 2 percent of its target.

The numbers published on Tuesday showed that wage growth in the UK, with the exception of rapid bonuses to an annual average of 5.9 percent in the three months to December. But economic growth was weak, as official data last week showed a marginal expansion of 0.1 percent in the three months until December, after the recession of the previous quarter.

“You will urge strong wage data yesterday, you will raise the hotter inflation printing this morning from the alarm bells on Threadneed

The inflation of services, a main measure of basic price pressures, increased to 5 percent in January from 4.4 percent in December, but it was less than 5.2 percent economists’ expectations.

After inflation numbers, the pound was flat at $ 1.262.

In response to Wednesday numbers, Chancellor Rachel Reeves said: “Getting more money in the pockets of people is my first task. Since the elections we have seen wages on an annual basis after inflation grows a faster rate-a value of 1000 pounds on average on average-but I know Millions of families are still struggling to meet their needs. “

On Tuesday, the governor of Bank of England Andrew Billy said that the central bank was able to reduce interest rates three times since last summer due to low inflation and because we are “facing a weak growth environment in the United Kingdom.”

He added that the expected rise in inflation was among the “challenges” in the Bank of England, as well as the global uncertainty, and his intention was to follow a “gradual and accurate” approach in interest rate discounts.