UK inflation falls in January for third consecutive month

Official annual rate of 10.1% follows figure of 10.5% for December

UK inflation fell for a third consecutive month in January although remained in double-digits at among the highest levels in 40 years amid the cost of living crisis.

The Office for National Statistics said the annual inflation rate as measured by the consumer prices index fell to 10.1%, continuing a decline from 10.5% in December and its recent peak of 11.1% in October.