Inflation soars on airfares and private school fees

UK inflation rose sharply in January after airfares failed to fall as quickly as expected and private school fees jumped.

The unexpected rise to 3% in the year to January, from 2.5% in December, means that consumer prices rose at the fastest rate for 10 months.

Private school fees grew by 13%, according to the Office for National Statistics, as VAT was added from 1 January after the government removed the tax exemption.

The cost of meat, bread and cereals also contributed to rising prices and inflation is forecast to rise further in the coming months, with higher energy prices pushing up the cost of living for households.