Higher clothing and footwear prices push living costs up again in Januaryon February 16, 2022 at 7:44 am

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Inflation rose to 5.5% in the 12 months to January, remaining at a 30-year high.

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Higher clothing and footwear prices pushed living costs up again last month, with inflation remaining at 30-year high.

Consumer prices rose by 5.5% in the 12 months to January, up from 5.4% previously, the Office for National Statistics (ONS) said.

It comes after figures showed inflation is now outpacing wages as energy, fuel and food costs continue to rise.

Inflation is excepted to climb above 7% this year, the Bank of England says.

Inflation is the rate at which prices rise. If the cost of a bottle of milk was £1 and then rises by 5p, milk inflation is 5%.

Since pandemic restrictions were eased, companies have faced surging wage, shipping and energy costs which they have passed on to customers.

Housing costs have also been rising, while the ONS said retailers are offering fewer sales and discounts than usual.

“Clothing and footwear pushed inflation up this month and although there were still the traditional price drops, it was the smallest January fall since 1990, with fewer sales than last year,” ONS chief economist Grant Fitzner said.

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