Inflation to fall below target?

"The implication is that second round effects are much more muted, and shocks to food and fuel prices do not propagate as strongly into core inflation", JPMorgan economists Sajjid Chinoy and Toshi Jain wrote in a recent note.

'That said, sadly it is still the case that many savings accounts are paying less than inflation - particularly older accounts and those held with the high street banks.

Inflation was largely lowered by prices for electricity and gas following an Ofgem cap on standard variable tariffs that decreased price increases in that category from 8.1pc to 1.4pc. Factory output growth in the previous month was revised downwards to 0.3 per cent, from 0.5 per cent previously.

Sterling lost slight gains against the dollar following the CPI data, remaining flat for the day at $1.2891.

The inflation rate fell lower than analysts' forecasts of 1.9 per cent but the Bank of England's prediction was on the money.

"House prices continued to grow, albeit at the lowest United Kingdom annual rate since July 2013, with growth in the North East and London lagging behind Northern Ireland, Wales and the West Midlands".

Retail food prices fell 2.17 percent in January from a year earlier, compared to revised fall of 2.65 percent a month earlier.

Oil rises after Saudi output pledge, declining US inventories
The IEA further added that traders shouldn't expect US sanctions against Venezuela to fuel a rally in oil prices. OPEC supply cuts, coupled with USA sanctions on Iran and Venezuela, have eased concerns of a glut.

"In the current climate of heightened uncertainty in regards to the Brexit process, businesses will benefit from a supportive monetary policy".

Yael Selfin, chief economist at consultancy KPMG UK, said January's inflation data gives Bank policymakers "ample room" to wait before they raise interest rates again as Britain's leaves the European Union.

"Assuming some kind of smooth Brexit, it should be able to gently nudge rates up over the next couple of years".

The Retail Prices Index (RPI), a separate measure of inflation, was 2.5 per cent, down from 2.7 per cent in December.

Mumbai: India's headline and core inflation rates are set to converge in the coming months as the economy slows, increasing the chance of more interest rate cuts.

Consumer-price growth reached 2.05 percent in January, well below the Reserve Bank of India's medium term target of 4 percent.

The manufacturing sector grew 2.7% in December, while electricity sector grew 5.5%.

Related News:

  • Bill Cosby: 'I have no remorse'

    Bill Cosby: 'I have no remorse'

    His first sexual assault trial ended in a mistrial, but he was re-tried and subsequently sent to prison for three to ten years. Bill Cosby is shedding light on his day-to-day life behind bars and, according to his spokesman, it's not so bad.
    Michelle Obama’s mom says she's not a 'real' star in sassy text

    Michelle Obama’s mom says she's not a 'real' star in sassy text

    Obama took the slip-up in stride, sending three laughing emojis and wrote, " I thought I told you ". Mother-daughter relationships aren't any easier when you're famous. 'She had a stream of people.
    Root falls as England stumble to tea

    Root falls as England stumble to tea

    It is understood that no further disciplinary measures will be taken surrounding the incident. Former England cricketer Nasser Hussain said Root's reaction would help cement his legacy.
  • OnePlus is going to show off a 5G phone later this month

    OnePlus is going to show off a 5G phone later this month

    The device is expected to arrive in the United Kingdom first on EE, as CNET reported back in December, as early as the end of May. OnePlus has now invited the media to experience the company's prototype 5G smartphone at Qualcomm's booth at the event.
    Fifth Pebble Beach victory makes Mickelson's day

    Fifth Pebble Beach victory makes Mickelson's day

    Open will be at Pebble Beach this year but Phil Mickelson does not think winning there on Monday will aid his Grand Slam chances. Both Mickelson and Casey will be playing in this week's Genesis Open , alongside the likes of Tiger Woods and Rory McIlroy.
    Samsung Galaxy S10, S10+ and S10e full specs allegedly revealed

    Samsung Galaxy S10, S10+ and S10e full specs allegedly revealed

    The device will come with a fingerprint sensor placed on the side of the frame and a dual-camera system on the back. Samsung's big Galaxy S10 event is scheduled to take place exactly one week from today in San Francisco, California.
  • News Sergio Ramos, 600 games for Real Madrid

    News Sergio Ramos, 600 games for Real Madrid

    Sergio Ramos' legendary time at the club started on the 8th September 2005 as he was officially presented as a Real Madrid player. "Frenkie de Jong is fit - he will be even more motivated as a future Barcelona player to play against Real Madrid ".
    Britain to 'enhance lethality' amid Russia, China threats -Minister

    Britain to 'enhance lethality' amid Russia, China threats -Minister

    The alliance "must develop its ability to handle the kind of provocations that Russian Federation is throwing at us", he will say. It was Washington's main battlefield ally in the wars in Iraq and Afghanistan, with more than 600 troops killed.
    Lottery victor  claims jackpot wearing ‘Scream’ mask to hide identity

    Lottery victor claims jackpot wearing ‘Scream’ mask to hide identity

    He completed the look with a long jacket, gloves and trousers as well as the iconic mask. I have a little business, so I plan to make it bigger, buy an apartment.
  • Watch The Latest Nintendo Direct Here

    Watch The Latest Nintendo Direct Here

    We can speculate that we might see some of the phantom thief in action ahead of the DLC's release later this year. You can also tune in right here on GameSpot and follow along with the Direct using the YouTube embed below.
    Lloris wants 'Wembley push' as Spurs seek Dortmund scalp in Champions League

    Lloris wants 'Wembley push' as Spurs seek Dortmund scalp in Champions League

    We won but against a bigger side we couldn't have won that type of game. "Unbelievable, unbelievable, unbelievable", Pochettino said .
    The Frozen 2 Teaser Trailer is Here!

    The Frozen 2 Teaser Trailer is Here!

    In late January the reunited ensemble of the original Frozen had already begun teasing the film on Twitter and Instagram. Our favorite ice queen has returned in what looks to be an incredible sequel to the blockbuster hit.


Most liked

California nixes plans for high-speed LA-SF rail line
Newsom criticized "fear-mongering that's coming out of the White House ", likening Trump's rhetoric on immigrants to George W. Newsom said the project has been botched and suffered "too many years of neglect" from bureaucrats and decision-makers.

After 15 Years, NASA Officially Ends Opportunity Mission on Mars
The Curiosity rover, which reached the Red Planet in August 2012, has more than 12 miles on its odometer. On Wednesday, Opportunity's team bid her farewell while looking to the foundations the mission laid.

Offset shares footage of Cardi B in delivery room
After being named the Grammy victor at the 61st annual ceremony, Cardi accepted the trophy alongside her Migos rapper husband, 27. Now, to top all that off, Offset made a decision to use a very graphic video of Cardi B giving birth to promote his new album.

Verstappen 'smiling' after testing new Red Bull vehicle
The 2019 Red Bull auto is the first to be made since the former world champions formed a partnership with new power providers Honda.

Mars One is dead
The investment company now in talks "has expressed its intention" to pay Mars One's creditors that money owed. At least the company went bankrupt before sending people out in space, as refunds would be quite hard .

Man Arrested in Kidnapping Death of NY Woman
The person who had rented the vehicle on that same date was Da Silva, the complaint said. "I'm paranoid, mommy. The victim's body was found on February 5 inside a suitcase discarded near a CT road by highway workers.

Meghan spotted at gala in first appearance since dad revealed 'devastating' letter
In the handwritten note, Meghan said: "We all rallied around to support and protect you from day 1, and this you know. Harry's mother, Diana, Princess of Wales , had a notoriously hard relationship with parts of the British media.

Tesla Out of Cheaper Model 3s, Stakeholder Cuts Share in Half
Musk has said Tesla has multiple ways of stoking demand, if it chose to, such as offering leases or boosting marketing efforts. The Tesla Model S and other cars from Tesla will benefit from the Dog Mode, another feature that will be introduced soon.

Manchester United vs. Paris Saint-Germain in UEFA Champions League
Instead it was United who received the only red card of the game when Paul Pogba was dismissed in the 89th minute. But Tuchel recognised he was United's most influential player and used Marquinhos to nullify him completely.

Dua Lipa Scores First Grammy for Best Dance Recording!
Part glittery silver fabric, part shiny pewter silk, the gown was the flawless look for Lipa's Grammys debut. 'I want to say a really big thank you to my fans who've allowed me to be the best version of myself'.

Black leopard spotted in Africa for first time in 100 years
While checking his equipment, the photographer continues: "Scrub hare, mongoose... we have something". "I can't believe it really. Burrard-Lucas used a Camtraptions Camera Trap that included wireless motion sensors, which pick up animals movements in the dark.

Derryn Hinch to vote with Labor and pass refugee medical transfer bill
His coalition has to call an election by May and has been trailing the opposition centre-left Labor Party in opinion polls. He said the move was to deal with "the prospect of arrivals as well as dealing with the prospect of (medivac) transfers".

Jeremy Lin To Sign with Raptors after Hawks Buyout
Lin is averaging 10.7 points and 3.5 assists while shooting 46.6% from the field in his ninth season. But Crabbe later hit back-to-back 3-pointers to tie the game with 1:34 remaining at 120.

Next Google Pixel SmartphoneCould Feature Improved Dual SIM Functionality
For context, both the Google Pixel 2 and Pixel 3 smartphones have both a regular SIM card slot and support for an eSIM. The source of information by way a short post made on the official page of the Android Open Source Project ( AOSP ).

Mako Vunipola ruled out of rest of Six Nations
Ireland paid a heavy price against England last week for playing an inexperienced fullback and France fell into the same trap. Mitchell is a hothead, let's make no bones about it, but I actually think his presence has helped to calm Eddie Jones down.