UK CPI up 1.8% in January and below forecasts

UK's consumer-price index (CPI), a measure of inflation, rose a less than expected 1.8% in January, up from 1.6% in December.

The market had forecast a rise of 1.9%, which is close to Bank of England's targeted 2.0%.

UK core CPI came in at 1.6%, which was below an expected 1.7% and from 1.6% previously.

The country's retail-price index (RPI) printed at -0.6%, versus an anticipated -0.4% and from a prior reading of 0.6%.