The Consumer Prices Index (CPI) measure of inflation rose 0.7% in the 12 months to January, up from 0.6% in December, the ONS reported today.

CPI inflation doubled in December to 0.6% from 0.3% the previous month.

UK pension savers paid 11% less into workplace defined contribution pension schemes as the Coronavirus pandemic hit the UK, according to new data from the Office for National Statistics (ONS).

CPI inflation showed a sharp drop last month from 0.7% in October to 0.3% in November as Black Friday price cuts and shop sales nudged prices down.