UK Inflation Falls for Third Straight Month to 10.1% in Jan

The United Kingdom’s inflation rate declined for the third month in a row to 10.1% in January, falling short of economists’ predictions, but high food and energy prices continued to put pressure on British households.

Reuters polled economists predicted that inflation would fall to 10.3%, down from 10.5% in December. After reaching a 41-year high of 11.1% in October, inflation has steadily declined since then.

The Office of National Statistics reported on Wednesday that core CPI (CPI excluding food, energy, alcohol, and tobacco) was 5.3%, down from 5.8% in December.