U.K. retail was slowing for its third consecutive month in January, which means inflation is taking its toll on consumer power.

Britain is losing purchasing power

As the data came on Friday, the pound fell by 0,7% against the dollar, Bloomberg reports.

Inflation surged to 1,8% in January, with price increases hitting food and fuel particularly hard. It is now projected that inflation may reach an annualized 3% in 2017. Inflationary pressure stems mostly from the pound’s double-digit (16%) d...