Inflation has risen a surprising amount to the highest in nearly a year, official figures show.
This means prices are rising even more than at any time since last March, according to data from the Office for National Statistics for January.
The consumer price index (CPI) ticked up steeply to 3% from 2.5% a month earlier.
A lower rise to 2.8% was forecast by economists polled by Reuters.
The rise has come from more expensive transport and food and non-alcoholic beverages costs.
Inflation is now higher above the Bank of England’s 2% target and will likely make the interest rate cuts less likely.
But there are some signs that will be welcomed by the rate-setters at the Bank.
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Content Source: news.sky.com