UK's cost of living surged in January, where the yearly CPI index, rose by 3.7%, compared with the previous 3.7% to 4.0%, meanwhile, on the month-on-month scale, the index rose by 0.1%, from 1.0%, consistent with the expected.

The Core CPI index, rose above market expectations and the previous 2.9 percent, to reach in January 3.0 percent, while below the expected 3.1%.