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Inflation steadies
Last month saw further evidence of inflation steadying. While Retail Prices Index (RPI) inflation slowed slightly from 5.2% to 4.9%, living costs continued to rise at 4.0% according to the Consumer Prices Index (CPI) and 4.2% on CPIH (with a housing element).
Core inflation (excluding energy, food, alcohol and tobacco) continued at 5.1% for the year to January (down only slightly from 5.2%).