Oil price pushes inflation higher - official

Annualised inflation increased to 1.2% from 1.1% the previous month, according to the consumer price index, CPI, method of calculating prices, the ONS says. Furniture, carpet and package holiday prices also increased more than at the same time last year - or did not fall as fast due to the lack of incentives such as price discounts. The Budget played its part too: duties on alcohol an tobacco went through their usual once-a-year increase, while water bills and television licence fees also increased. ONS says annualised inflation actually fell according to the RPI, retail price ind...