Inflation Up in January on Recreation

According to the Office of National Statistics (ONS) latest figures:

The Consumer Prices Index including owner occupier’s housing costs (CPIH) 12-month inflation rate rose in January 2021 to 0.9%, which is up from December 2020 figure of 0.8%.

January’s largest contributor was recreation and culture (0.35 percentage points).

The largest downward contributors were transport, household goods, restaurants, hotels and food.

The CPIH in January 2021 did fall by 0.1% following a rise in December 2020 of 0.2% on a monthly basis.

The number of CPIH in January 2021 due to increased restrictions caused by the coronavirus pandemic identified 69 items as unavailable, 8.3% of the basket by weight.

The number rose from 9 in December 2020 but still 72 items were unavailable during the November 2020 lockdown.

The price collection for January 2021 collected a weight total of 88.2% of comparable coverage collected before the first lockdown which excluded item that were unavailable.

In the 12 months to January 2021 The Consumer Prices Index (CPI) rose 0.7% which is up from December 2020 which was 0.6%.

A public statement on the coronavirus and the production of statistics; Measuring the data describes the situation in relation to consumer price statistics has been released by the ONS.

Comment

This is the start of things to come, inflation will steadily rise.