UK consumer prices spike driven by fuel and airline costs

British inflation unexpectedly rose to a six-month high in January, pushed up by higher petrol prices and a smaller-than-usual drop in airfares.

The official figures showed consumer prices rose at an annual rate of 1.8% compared with 1.3% in December, not far off the Bank of England’s 2% target. That compares with the Irish inflation of 1.3% in December.