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British Inflation Remains Steady

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British inflation remained steady in January with higher food costs, financial services, and utility bills.

Annual inflation was expected to slow to 1.5%, according to a Bloomberg survey.

“The Office for National Statistics said the drop in the cost of petrol and diesel offset price rises sparked by shortages of fruit and vegetables in January, keeping the Consumer Price Index, or CPI, unchanged at 1.6 percent.

The January sales also helped to check inflation during the month, with larger price cuts in clothing and footwear compared with last year, the office said.”

It is speculated that interest rates will rise as a result of growth in factory output, property-price gains, record employment, and fourth-quarter growth that was faster than expected.

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British Inflation Remains Steady
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