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Inflation edges up
Despite a month-on-month drop in the Retail Prices Index (RPI), the annual rate of inflation edged up to 1.4% in Januar. The CPIH figure, including owner-occupied housing costs, also nudged up to 0.9%.
Government plans to align RPI with the usually lower CPIH from 2030 are being challenged by trustees from three big pension schemes (BT, Ford and Marks & Spencer) and could face a future judicial review.