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12/02/2008
Inflation On The Rise
UK inflation increased last month, rising to 2.2% from 2.1% in December.
It is the fourth month in a row that that the Consumer Prices Index (CPI) inflation has remained above the government's 2% target and is the highest rate since June last year.
The Retail Price Index (RPI), which includes mortgage interest payments, also rose to 4.1% from 4% in December.
The Office of National Statistics said that the largest upward pressure came from an increase in the price of road fuels. Average petrol prices rose by 1.3p in January to stand at 103.9p per litre, compared with a fall of 0.8p a year ago.
There was also a large upward effect from food prices, particularly fruit, such as grapes and grapefruit, where prices fell by less than last year.
Furniture prices also contributed to the rise, with price reductions in the January sales being less than the previous year.
A large downward effect came from clothing and footwear, with prices of garments falling by more than last year.
(KMcA)
It is the fourth month in a row that that the Consumer Prices Index (CPI) inflation has remained above the government's 2% target and is the highest rate since June last year.
The Retail Price Index (RPI), which includes mortgage interest payments, also rose to 4.1% from 4% in December.
The Office of National Statistics said that the largest upward pressure came from an increase in the price of road fuels. Average petrol prices rose by 1.3p in January to stand at 103.9p per litre, compared with a fall of 0.8p a year ago.
There was also a large upward effect from food prices, particularly fruit, such as grapes and grapefruit, where prices fell by less than last year.
Furniture prices also contributed to the rise, with price reductions in the January sales being less than the previous year.
A large downward effect came from clothing and footwear, with prices of garments falling by more than last year.
(KMcA)
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