𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

UK inflation decreased to 3% in January from 3.4% in December, the Office for National Statistics (ONS) said.

The latest reading puts inflation back on a downward trajectory after an increase in the previous month.

Chancellor Rachel Reeves said: “Cutting the cost of living is my number one priority.

“Thanks to the choices we made at the budget we are bringing inflation down, with £150 off energy bills, a freeze in rail fares for the first time in 30 years and prescription fees frozen again.

“Our economic plan is the right one, to cut the cost of living, cut the national debt and create the conditions for growth and investment in every part of the country.”