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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.

CPI and RPI table

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.





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