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Increased fuel prices contribute to UK inflation

The Consumer Prices Index (CPI) measure of annual inflation in the UK was 2.2% in January, up from 2.1% in December.

The largest upward pressure came from an increase in the price of road fuels.

Average petrol prices rose by 1.3 pence in January to stand at 103.9 pence per litre, compared with a fall of 0.8 pence a year ago.

As an internationally comparable measure of inflation, the CPI shows that the UK inflation rate in December, at 2.1%, was below the provisional figure of 3.2% for the whole of the European Union.

Commenting on the increase in UK inflation, the Petrol Retailers Association’s director, Ray Holloway, said: “With the price of fuel now clearly impacting on inflation, the time has come for the Chancellor to cancel the fuel duty increase scheduled for April 1.”

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