The UK’s annual core inflation rate edged down to 3.1% in January 2026 from 3.2% in the previous two months, in line with market expectations. It marked the lowest reading since September 2021, as core goods inflation slowed notably (1.6% vs 2.2% in December), while services inflation eased slightly (4.4% vs 4.5%). On a monthly basis, core consumer prices fell 0.6%, reversing a 0.3% increase in December.