// UK inflation increased last month due to higher food prices and more expensive household goods
// The ONS found that the Consumer Prices Index (CPI) increased to 0.7% in January
// The figure was ahead of the analyst forecast of 0.5%
New research has found that UK inflation increased last month on the back of higher food prices and more expensive household goods.
The Consumer Prices Index (CPI) increased to 0.7 per cent in January from 0.6 per cent in December, according to the ONS.
The figures were ahead of the analyst forecasts of 0.5 per cent.
“Inflation rose slightly in January, with food prices increasing,” ONS deputy national statistician for economic statistics Jonathan Athow said.
“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.”