British inflation sped up to an annual rate of 3.0% in January from 2.5% in December, official figures showed on Wednesday.
EXCLUSIVE - The Reform UK deputy has warned the Chancellor not to fuel further inflation with a harmful tax grab.
Pay outstripped price rises by 3.4% between October and December while the unemployment rate remains unchanged.
Nicholas Hyett, at Wealth Club, said: “Recent economic data points to a slowdown in the UK economy – GDP came in lower than expected, inflation has fallen and unemployment has ticked up.
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