How will the latest UK inflation figures impact people?

Описание: Axel Rudolph, Senior Financial Analyst at IG discusses the latest UK inflation figures and how it will impact people.

UK inflation has eased back for the third straight month to 10.1% in January as lower air fares and fuel costs helped slow rises in the cost of living, according to official figures.

The Office for National Statistics (ONS) revealed Consumer Prices Index (CPI) inflation dropped sharply from 10.5% in December in a bigger-than-expected fall.

Most economists had been expecting a drop to 10.3% last month.

It marks a further welcome decline from the eye-watering peak of 11.1% seen last October, caused by soaring energy prices.

But with inflation still firmly in double digits, households are yet to feel the pressure lift.

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