By Jason Douglas
LONDON--Consumer prices in the U.K. rose in January at their fastest annual rate in six months, driven by higher prices for electricity and gas.
Inflation nevertheless remains slightly below the Bank of England's 2% annual target. The central bank is expected to keep policy on hold over the next few months as the U.K. begins negotiating a new trading relationship with the European Union.
The Office for National Statistics said Wednesday that consumer prices rose 1.8% on the year in January, faster than the 1.3% increase recorded in December.
Write to Jason Douglas at Jason.Douglas@wsj.com
(END) Dow Jones Newswires
February 19, 2020 04:46 ET (09:46 GMT)
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