London, UK - Recent The Consumer Prices Index (CPI) of the United Kingdom (UK) surged to 3 percent in January, its highest in 10 months, fueled by higher food prices, airfares, and education costs. According to data released by the Office for National Statistics (ONS) on Wednesday, the UK's CPI rose sharply from 2.5 percent in December to 3 percent in January, exceeding economists' forecast of 2.8 percent. Grant Fitzner, chief economist at the ONS, attributed the rise to higher airfares, which saw a smaller-than-usual drop compared to previous years, with January's airfare reductions being the smallest since 2020. In addition, rising costs for food and education contributed significantly to the inflation spike. The core CPI, which excludes food and energy prices, rose from 3.2 percent to 3.7, in line with market expectations. The Bank of England (BoE) has predicted that inflation would rise to 3.7 percent in the third quarter, and economic consultancy Pantheon Macroeconomics warned that inflation exceeding 4 percent later this year is not out of the question. Markets now predict an 82 percent chance that the BoE will keep the benchmark interest rate unchanged at its March meeting, with only two potential rate cuts throughout 2025. Shotlist: London, UK - Recent: 1. Various of Palace of Westminster, Elizabeth Tower, traffic, pedestrians; 2. Aerial shot of planes, airport; 3. Board showing flight information; 4. Various of airport, planes; 5. Various of cityscape, traffic, pedestrians; 6. Various of Bank of England; pedestrians; 7. Various of cityscape, traffic, pedestrians; 8. Various of River Thames, vessels, UK national flag; 9. Buildings, UK national flag. [Restriction - No access Chinese mainland]