UK Inflation Hits Higher As Food Prices Rise
The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation increased to 0.7% in January from 0.6% in December.
UK inflation increased last month on the back of higher food prices and more expensive household goods, according to official figures.
The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation increased to 0.7% in January from 0.6% in December.
The figure was ahead of analyst expectations, with a consensus of economists having predicted inflation of 0.5% for the month.
Commenting on today’s figures, Deputy National Statistician for Economic Statistics @ Office for National Statistics (ONS) (@ONS) February 17, 2021
Jonathan Athow, deputy national statistician for economic statistics at the ONS, said: “Inflation rose slightly in January, with food prices increasing.
“Household goods also pushed up prices with less discounting this year on items such as bedding and settees.
“However, there were widespread January sales, with particular price cuts for clothing and footwear.”
