Retail price inflation is up

The annual rate of inflation — as measured by the Retail Prices Index (RPI) — went up to 2.8% at the start of 2014 against 2.7% last December. The rise was due in part to higher motoring costs.

Under the Consumer Prices Index (CPI) measure generally used by the government, inflation fell below the Bank of England’s 2.0% target for the first time since November 2009. The rate was 1.9% in January against 2.0% the previous month.

www.ons.gov.uk/ons/rel/cpi/consumer-price-indices/january-2014/index.html