UK Annualized Inflation Surges to 5.5%

The UK Consumer Prices Index (CPI) 12-month rate came in at 5.5% in January when compared to +5.4% registered in December while beating expectations of a +5.4% print, the UK Office for National Statistics (ONS) reported on Wednesday. Meanwhile, the core inflation gauge (excluding volatile food and energy items) rose by 4.4% YoY last month versus +4.2% booked in December, exceeding the consensus forecast of +4.3%.