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January’s consumer inflation rate remains stable.
The UK’s Consumer price inflation, CPI, remained unchanged at 2.7% in January 2013. The fourth month in a row that the inflation rate remained stable, the UK’s Office for National Statistics (ONS) said that January saw alcohol and tobacco costs rising but were mitigated by falling clothing and footwear prices.
January’s results mean that CPI has remained stable for the longest periods since records began in 1996.
Speaking to the BBC Phil Gooding from the ONS commented that they “know that not all the rises in utility prices have yet entered the index. There’s still some more to come which will have an upward effect on inflation”.
Mr Gooding raised caution that fuel costs my lead to change in the inflation rate saying that” We also have to watch out for oil prices – these have been falling for four or five months but in January they started to rise again”.
Rises to inflation caused by fuel cold be tempered by changes to the UK high street as “, we know of a number of large stores closing or at least going into administration over the last couple of months” argued Mr Gooding, but said “there are pressures on certain parts of the High Street which could have a downward effect”.
