Inflation in the UK fell to 10.1% in January, worse than expected

The UK inflation rate eased to 10.1% in January from 10.5% in December 2022.

The figure is below the market consensus of 10.3%

The CPI or Consumer Price Index slipped 0.6% from last month.

The figures caused a shock reaction in the pound as it fell from 1.2135 to 1.2110.

The decrease in annual inflation in January mainly reflected price changes in the transport sector, especially passenger transport and motor fuels.

There were also negative effects in restaurants and hotels, with the largest, partially offsetting, upward effect coming from alcoholic beverages and tobacco.

ETFs: (FXB), (EWU), (FKU), (EWUS), (HEWU), (FLGB).

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