CPI stands at 2.7 per cent, unchanged for fourth month

Stability in price levels.

The ONS has released the latest inflation figures for January:

  • The Consumer Prices Index (CPI) annual inflation grew by 2.7% in January 2013, unchanged for the fourth month in a row. This is the longest period for which CPI growth has remained unchanged.
  • The largest upward pressures came from alcohol (with prices recovering after Christmas sales) and air fares.
  • Miscellaneous goods & services and clothing provided the largest downward pressures.
  • The Retail Prices Index (RPI) annual inflation stands at 3.3% in January 2013, up from 3.1% in December.

CPI 12-month percentage change

Inflation. Photograph: Getty Images

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

Photo: Getty
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Cabinet audit: what does the appointment of Liam Fox as International Trade Secretary mean for policy?

The political and policy-based implications of the new Secretary of State for International Trade.

Only Nixon, it is said, could have gone to China. Only a politician with the impeccable Commie-bashing credentials of the 37th President had the political capital necessary to strike a deal with the People’s Republic of China.

Theresa May’s great hope is that only Liam Fox, the newly-installed Secretary of State for International Trade, has the Euro-bashing credentials to break the news to the Brexiteers that a deal between a post-Leave United Kingdom and China might be somewhat harder to negotiate than Vote Leave suggested.

The biggest item on the agenda: striking a deal that allows Britain to stay in the single market. Elsewhere, Fox should use his political capital with the Conservative right to wait longer to sign deals than a Remainer would have to, to avoid the United Kingdom being caught in a series of bad deals. 

Stephen Bush is special correspondent at the New Statesman. He usually writes about politics.