Data from the ONS shows that consumer prices in the UK reached 1.8% in January- the highest level since summer 2014. Whilst this price was slightly below the consensus figure of 1.9%, it shows that inflation is getting closer to the Bank of England target of 2%. The ONS claim that rising prices of motor fuels and a slowdown in the fall of food prices have contributed to the high inflation levels.

UK inflation reaches its highest rate for two years – Mortgage Introducer