// Price rises in the UK slowed for a third month in a row although inflation remains near a 40-year high
// Food inflation remained high at 16.7% in the year to January
Price rises across the UK have slowed down for a third month in a row however inflation remains close to a 40-year high, according to the latest official figures released today.
Inflation edged down to 10.1% in the year to January from 10.5% in December.
The Office for National Statistics (ONS) which published the data, said the fall is mainly due to the price of fuel, restaurants and hotels easing, although this was offset by rising prices of alcohol and tobacco.
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Food inflation also remained stubbornly high at 16.7% in the year to January and is one of the main drivers fuelling overall inflation, along with energy bills, according to the ONS.
Some analysts have said the ongoing cost-of-living crisis may now be beginning to ease after inflation reached its peak in October.
However at 10.1%, the rate of price rises is still significantly higher than the 2% target the Bank of England is charged with meeting.
Other than in the last year in which inflation has been rising, the last time it was above the current level was in February 1982.
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