Analytics state that there are no clues to consider Brexit-related custom fees and transport costs are to blame. UK inflation rose last month pushed by higher food prices and less discounting on household goods, official figures show.
The Consumer Prices Index (CPI) increased to 0.7% in January from 0.6% in December, according to the Office for National Statistics. The figure was ahead of analyst forecasts, with many economists having predicted inflation of 0.5% for the month.
“However, there were widespread January sales, with particular price cuts for clothing and footwear.”
Food and drink prices rose by 0.6% between December and January, compared with a 0.2% fall over the same period a year earlier.
Furniture and household goods dropped by 1.5% compared with a fall of 3.3% a year earlier.
Clothing and footwear prices fell by 4.9% on the month – the biggest drop between December and January in seven years – and saw a 3.8% annual fall.