UK Inflation Rate Rises By 0.7 Percent In January - Office For National Statistics

UK Inflation Rate Rises by 0.7 Percent in January - Office for National Statistics

The inflation rate rose by 0.7 percent in the United Kingdom last month, as a result of higher prices of household goods, furniture, food and transport, the Office for National Statistics reported on Wednesday

LONDON (UrduPoint News / Sputnik - 17th February, 2021) The inflation rate rose by 0.7 percent in the United Kingdom last month, as a result of higher prices of household goods, furniture, food and transport, the Office for National Statistics reported on Wednesday.

"The Consumer Prices Index rose 0.7% in the 12 months to January 2021, up from 0.6% to December 2020," the ONS said.

According to the report, the largest contribution to the upward trend came from higher prices in furniture and household goods, restaurants and hotels, food, and transport, while falling clothing and footwear prices had a downward effect.

"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," Jonathan Athow, deputy national statistician for economic statistics at the ONS, said.

The ONS said that last month's price collection was completed on or around January 12, so some of the uncertainty in price quotes at the start of the year had settled down.