UK inflation rises to three-month high of 0.7%

UK inflation rises to three-month high of 0.7%
  • Clock-gray 15:20
  • calendar-gray 17 February 2021

British inflation rose a little more than expected in January as the country went back into a coronavirus lockdown, pushed up by higher food prices and less discounting of household goods such as sofas, official data showed on Wednesday, APA reports citing Reuters.

Consumer prices rose 0.7% in annual terms after a 0.6% increase in December, the Office for National Statistics said.

A Reuters poll of economists had pointed to the annual rate remaining at 0.6%.

“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,” ONS statistician Jonathan Athow said.

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 - and 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 recorded a 3.8% annual fall.

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