U.K. annual CPI for the month of January came in line with median estimates of 3.6% compared with the prior reading of 4.2%. On the monthly basis, the reading also matched forecasts of -0.5%, lower than the December's reading of 0.4%. Similarly, the annual core CPI came in at 2.6%, in line with estimates, down from the previous 3.0%.

Retail Price Index (RPI), known as the cost of living index, plunged to -0.6% on the monthly basis while retreated to 3.9% on the year from the prior readings of 0.4% on the month and 4.8% on the year, where analysts' forecasts referred to -0.4% and 4.1% for the month and the year respectively.