British inflation hits one-year high in January

Britain's annual inflation rate rose in January 2016 to its highest level for a yearBritain’s annual inflation rate rose in January to its highest level for a year, buoyed by the higher prices for clothing and alcohol, official data showed Tuesday. The 12-month Consumer Price Index (CPI) rose by 0.3 percent last month, after registering 0.2 percent in December, the Office for National Statistics (ONS) said in a statement. Inflation also rose as fuel and food prices fell by less than they experienced one year ago.

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