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mpc: 23 In line with pre-release arrangements, an advance estimate of CPI inflation for January had been provided to the Governor ahead of publication. This had indicated that inflation was 1.9% in January. There were also revisions to the past data. In particular, the December inflation rate had been revised down from 2.0% to 1.9%. Since the November Inflation Report, inflation outturns had been a little lower than expected.