FTSE 100 holds as inflation rate remains unchanged

<p>The FTSE 100 has held has the consumer prices inflation index remains unchanged in January.</p>

The FTSE 100 has held its ground this morning, as the UK inflation rate remains unchanged for the month of January.

According to the Office for National Statistics, the rate of consumer price inflation in the country was steady at 2.7 per cent for the fourth consecutive month, with slower price rises being recorded in the clothing and footwear sector.

An 8.5 per cent rise in the prices of alcohol and tobacco was the biggest factor driving up prices, according to the statistics bureau.

The rate of Retail Prices Index inflation rose to 3.3 per cent in January from 3.1 per cent in December.

This follows comments from the Bank of England last week that the country's rate of inflation remains above its two per cent target.

At 10:50 GMT, the benchmark FTSE 100 index rose by 0.1 per cent to an index value of 6283.3 points – a climb of 6.3 points.

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