UK inflation stays in letter-writing territory

British CPI inflation edged down in January but less so than analysts' expected. However, RPI inflation slid sharply to a near 49-year low as mortgage costs plunged on the back of the Bank of England's rate cuts.

CPI inflation, the monetary-policy relevant measure, fell by a tenth of a percentage point from 3.1% in December to 3% last month, the Office for National Statistics, the government's statistics bureau, said on Tuesday. Analysts had forecast inflation of 2.7%.

"The Bank of England sa

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