UK inflation retreats further, remains above 10%

British annual inflation dropped further last month on easing transport costs, official data showed Wednesday, but remains above 10 percent, prolonging a cost-of-living crisis that has sparked massive strikes.

Inflation around the world is easing after striking the highest levels in decades last year as the invasion of Ukraine by Russia fuelled energy and food prices.

The UK Consumer Prices Index (CPI) fell to 10.1 per cent in January compared with a rate of 10.5 per cent in December, the Office for National Statistics (ONS) said in a statement.