Inflation rises to 0.6% on higher petrol prices
The rate of consumer prices index (CPI) inflation rose to 0.6 per cent last month, from 0.5 per cent in June, official figures showed today.
The Office for National Statistics (ONS) said the figure now stands at its highest level since November 2014, but is “still relatively low in the historic context”.
It added: “The main contributors to the increase in the rate were rising prices for motor fuels, alcoholic beverages and accommodation services, and a smaller fall in food prices than a year ago.
“These upward pressures were partially offset by falls in social housing rent, and falling prices for certain games and toys.”
The retail prices index measure of inflation, which determines how much regulated rail fares will rise next year, was 1.9 per cent in July, up from 1.6 per cent in June, the ONS said.