U.K. CPI for January climbed to 3.5%, in line with expectations and higher than the previous 2.9%. On the month, the reading declined to -0.2% from the prior 0.6% and forecasts of -0.1%. Annual core CPI rose to 3.1% compared with the prior 2.8% and median projections of 3.2%.

RPI reached 3.7% on the year and to 0.0% on the month relative to the preceding 2.4% and 0.6% respectively, while analysts expected 3.8% and 0.0%. Annual RPI reading excluding mortgage interest payments matched forecasts at 4.6% from the prior 3.8%.