UK inflation rate has fallen in January to nine-month low as the country's stocks have plunged and global economic recession has widened.
Consumer Prices Index (CPI) inflation descended slightly in January to 3%, from 3.1% in December as cheaper food, fuel, transport and housing reduce pressure on prices, the Office for National Statistics said Tuesday in London.
CPI inflation in the UK has dropped for four months consecutively. An inflation of 5.2% was recorded in September.
The headline Retail Prices Index (RPI) rate, which includes mortgage costs and is often used in pay negotiations, reduced to 0.1% from 0.9% in December. This is the lowest rate registered since 1960. The decrease in RPI may lead to pressure on employers to limit salary rises.
Transport costs have had the biggest downward contribution, as the price of petrol fell by 2.9 pence per liter to 86.3 pence between December and January. Diesel prices in the same period decreased 4 pence per liter to 98.4 pence.
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