UK's Hunt says government made 'huge progress' in bring down inflation

British finance minister Jeremy Hunt said on Wednesday the government had made "huge progress" in bringing down inflation, after official data showing consumer price inflation holding at 4% in January.

"Inflation never falls in a perfect straight line, but the plan is working; we have made huge progress in bringing inflation down from 11%, and the Bank of England forecast that it will fall to around 2% in a matter of months," Hunt said in a statement.