{"id":163940,"date":"2021-01-20T08:52:36","date_gmt":"2021-01-20T08:52:36","guid":{"rendered":"https:\/\/www.theindustry.fashion\/clothing-and-transport-prices-pushed-up-inflation-in-december\/"},"modified":"2021-08-06T12:09:57","modified_gmt":"2021-08-06T12:09:57","slug":"clothing-and-transport-prices-pushed-up-inflation-in-december","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/clothing-and-transport-prices-pushed-up-inflation-in-december\/","title":{"rendered":"Clothing and transport prices pushed up inflation in December"},"content":{"rendered":"<p>UK inflation picked up pace in December after <strong>hard-hit fashion retailers held off from further steep discounts<\/strong> and as transport costs edged up, according to official figures.<\/p>\n<p><!--more--><\/p>\n<p>The Office for National Statistics (ONS) said Consumer Prices Index (CPI) <strong>inflation rose to a slightly higher-than-expected 0.6%<\/strong> in December from 0.3% in November.<\/p>\n<p>It said <strong>clothing prices rose marginally \u2013 up 0.1% \u2013 between November and December,<\/strong> in contrast to the usual falls seen due to Boxing Day sales, though prices still dropped on an annual basis.<\/p>\n<p><strong>Transport prices also lifted as some travel restrictions eased earlier in December<\/strong> and air fares rose month-on-month despite the pandemic curbing most international travel.<\/p>\n<p>Suring demand for computer games and consoles and children\u2019s toys pushed up inflation further, with annual recreation and culture inflation hitting its highest level since August.<\/p>\n<p>Jonathan Athow, deputy national statistician at the ONS, said: \u201c<strong>Clothing prices put upward pressure on inflation in December,<\/strong> despite some evidence of continued discounting.<\/p>\n<p>\u201cTransport costs, including air, sea and coach fares, as well as petrol prices, rose as some travel restrictions eased during parts of the month.<\/p>\n<p>\u201cThese were partially offset by falling food prices, most notably for vegetables and meat.\u201d<\/p>\n<p><strong>Clothing and footwear retailers had already slashed prices in November<\/strong> amid the second lockdown in England, which disrupted the usual discounting seen after Christmas.<\/p>\n<p>Swathes of the high street were also forced to shut amid tightening coronavirus restrictions just before the holidays.<\/p>\n<p>The ONS said <strong>the annual rate of clothing and footwear inflation fell by 1.8%<\/strong> against the unusually steep 3.6% decrease in November.<\/p>\n<p>Recreation and culture annual inflation jumped to 2.6% in December, while transport cost inflation hit its highest for 18 months, at 1.9%.<\/p>\n<p>The data also showed that petrol prices rose 1.5p over the month to 114.1p a litre, as the oil price continued to climb.<\/p>\n<p>Higher alcoholic drink and tobacco prices saw a CPI rise last month, with 2.2% on tobacco products due to a tax hike from mid-November.<\/p>\n<p><strong>The Retail Price Index (RPI), a separate measure of inflation, was 1.2% in December,<\/strong> rising from 0.9% the previous month.<\/p>\n<p>The CPI, including owner-occupiers\u2019 housing costs (CPIH) \u2013 the ONS\u2019s preferred measure of inflation \u2013 was 0.8% last month, up from 0.6% in November.<\/p>\n<p>Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said he<strong> expects inflation to remain low until April,<\/strong> when a potential increase in the energy price cap could help push CPI up to 1.5%.<\/p>\n<p>He added: \u201cCPI inflation will also rise in the hospitality and recreation sectors in April, when VAT will return to 20% from its current 5% rate, though most businesses declined to pass on the saving to consumers and so will not automatically hike prices.\u201d<\/p>\n<p>He stressed that the risk of inflation going above the Bank of England\u2019s 2% target \u201cseems low\u201d throughout 2021 and 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>UK inflation picked up pace in December after hard-hit fashion retailers held off from further steep discounts and as transport costs edged up, according to official figures.<\/p>\n","protected":false},"author":68,"featured_media":141873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[14175,12649],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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