Commenting on the figures, Danske Bank Economist Conor Lambe said:
“Today’s data shows that the inflation rate moved closer to the Bank of England’s two percent target.
“Inflation increased from 1.6 percent in December to 1.8 percent in January. This was partly due to rising fuel prices and less downward pressure coming from food prices.
“With input prices paid by UK manufacturers and output prices received by manufacturing businesses on the up, consumer price inflation is likely to rise further over the months ahead.”
This comment was published in response to the January 2017 UK inflation data published by the ONS on 14th February 2017.