Inflation climbs in UK and Canada
Headline figures increased year on year by 0.7% in the UK and 1% in Canada
Headline inflation readings increased in January in both the UK and Canada, according to data released today (February 17).
The UK consumer prices index rose year on year by 0.7% in January, up from 0.6% in December.
The National Institute of Economic and Social Research says this seems to mark a turning point: “Our measure of underlying inflation, which excludes extreme price movements, increased to 0.5% in January, suggesting that inflation bottomed out in December 2020.”
In Canada
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