Growth in CPI inflation fell to 1.9% in the year to January 2014 from 2% in December 2013 according to a statistical bulletin from the ONS.
Decreases in prices for recreational goods and services, furniture and household goods and alcoholic drinks and tobacco were the main contributors to the fall. These price movements were offset by an upward movement in prices for miscellaneous goods and services.
The change in the inflation figures means that a basket of goods and services that cost £100.00 in January 2013 would cost £101.90 in January 2014.
CPIH grew by 1.8% in the year to January 2014 down from growth of 1.9% in December 2013. CPIH is an inflation measure that includes owner occupier housing costs (OOH) but not things like utility bills, minor repairs and maintenance.
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