According to the latest figures from the Office for National Statistics (ONS), CPI inflation has rose to 1.0%pa in July which is up from 0.6%pa in June.
CPIH inflation which includes owner occupiers housing costs went from 0.8% pa in June to 1.1%pa in July.
Recreation and culture where the largest contributors in July with clothing, rising prices of petrol, furniture and household goods also making large upward price increases.
Interestingly, the old measure for inflation, RPI (retail prices index) shot up by 0.5%pa, from 1.% pa to 1.6% pa. RPI includes the costs of housing, which is rising even higher given the housing shortage and demand for rental as well as buying property.
It was inevitable that with some relaxatin of lockwown, some prices would start to rise again as demand kicks in.