The UK's inflation rate held steady at 4 per cent in January, defying predictions it would nudge back upwards.
Food prices fell for the first time since September 2021, although they are still 7 per cent higher than a year ago.
Gas and electricity prices rose at a faster rate than a year ago, leaving the Consumer Price Index flat overall, with the effect of the Red Sea shipping crisis appearing to be limited.
Economists had predicted a rise to 4.2 per cent.
However, the inflation rate remains double the Bank of England's 2 per cent target and is being closely watched in an election year.
"Inflation never falls in a perfect straight line, but the plan is working," said Chancellor of the Exchequer Jeremy Hunt.
"We have made huge progress in bringing inflation down from 11 per cent and the Bank of England forecast that it will fall to around 2 per cent in a matter of months."
Labour said millions of families were still struggling with the cost of living after what it called "14 years of economic failure" under the Conservatives.
“The Conservatives cannot fix the economy because they are the reason it is broken," said shadow chancellor Rachel Reeves.
The 0.4 per cent drop in food prices was mainly driven by bread and cereals, with noticeable falls in the price of cream crackers and chocolate biscuits.
Gas, electricity, motor fuels and second-hand cars were among the rising costs cancelling out the drop in food prices.
Boudewijn Driedonks of consultants McKinsey said the "opposing pressures" on inflation could lead to an unsteady rate during 2024.
The impact from Red Sea trade disruptions "prove relatively limited" in the figures, with shipping costs making up only a minor portion of costs in most sectors, he said.
“Although the UK is still at very high absolute price levels compared with 2021, prices for now seem to be stabilising," he said.
Dubai Rugby Sevens
November 30-December 2, at The Sevens, Dubai
Gulf Under 19
Pool A – Abu Dhabi Harlequins, Jumeirah College Tigers, Dubai English Speaking School 1, Gems World Academy
Pool B – British School Al Khubairat, Bahrain Colts, Jumeirah College Lions, Dubai English Speaking School 2
Pool C - Dubai College A, Dubai Sharks, Jumeirah English Speaking School, Al Yasmina
Pool D – Dubai Exiles, Dubai Hurricanes, Al Ain Amblers, Deira International School
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
If you go
The flights
There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.
The trip
Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.
The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.
Brave CF 27 fight card
Welterweight:
Abdoul Abdouraguimov (champion, FRA) v Jarrah Al Selawe (JOR)
Lightweight:
Anas Siraj Mounir (TUN) v Alex Martinez (CAN)
Welterweight:
Mzwandile Hlongwa (RSA) v Khamzat Chimaev (SWE)
Middleweight:
Tarek Suleiman (SYR) v Rustam Chsiev (RUS)
Mohammad Fakhreddine (LEB) v Christofer Silva (BRA)
Super lightweight:
Alex Nacfur (BRA) v Dwight Brooks (USA)
Bantamweight:
Jalal Al Daaja (JOR) v Tariq Ismail (CAN)
Chris Corton (PHI) v Zia Mashwani (PAK)
Featherweight:
Sulaiman (KUW) v Abdullatip (RUS)
Super lightweight:
Flavio Serafin (BRA) v Mohammad Al Katib (JOR)
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
COMPANY%20PROFILE
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How to help
Donate towards food and a flight by transferring money to this registered charity's account.
Account name: Dar Al Ber Society
Account Number: 11 530 734
IBAN: AE 9805 000 000 000 11 530 734
Bank Name: Abu Dhabi Islamic Bank
To ensure that your contribution reaches these people, please send the copy of deposit/transfer receipt to: juhi.khan@daralber.ae
'Will%20of%20the%20People'
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