
This marked the very best stage of inflation charge since March 2024 at 3.2%.
The most important upward contribution to the month-to-month change got here from transport, meals and non-alcoholic drinks and training.
ONS chief economist Grant Fitzner stated: “Inflation elevated sharply this month to its highest annual charge since March final 12 months. The rise was pushed by air fares not falling as a lot as we normally see right now of 12 months, partly impacted by the timing of flights over Christmas and New Yr.
“After falling this time final 12 months, the price of meals and non-alcoholic drinks elevated, notably meat, bread and cereals. Personal faculty charges have been one other issue, as new VAT guidelines meant costs rose almost 13% this month.”
Kris Hamer, director of perception of the British Retail Consortium (BRC), stated: “An increase within the headline charge of inflation to start out 2025 is probably going an indication of issues to return given the £7bn price of further prices the retail business is dealing with this 12 months. Costs are anticipated to rise throughout the board over the course of the 12 months.
“If the federal government needs to maintain inflation underneath management, which might ease the burden on customers, it ought to mitigate the massive cumulative prices dealing with the retail business.”