Annual rate of UK's consumer price inflation picks up in January

Annual inflation in the UK accelerated to 5.5% in January from 5.4% a month earlier, Report informs referring to the UK Office for National Statistics.

In January consumer prices decreased by 0.1% after gaining 0.5% in December.

Analysts polled by the Daily FX portal expected annual inflation to remain at 5.4% in December. Consumer prices were expected to decline by 0.2% month-on-month.