Cost of clothing soars as January sales fail to materialise

A lack of January sale bargains is helping push up the cost of living.

The price of clothing and footwear was a major contributor to rising inflation in January. Overall Consumer Prices Index (CPI) rose by 5.5% in the 12 months to January 2022, up from 5.4% in December 2021.

However, the cost of clothing and footwear rose by 6.3%, according to figures from the Office for National Statistics. That was the biggest annual rise since records began in 1989.

Usually, the cost of clothing and footwear falls in January, as shops cut prices during the post-Christmas sales.

Prices did fall in January this year - down by 2.9% compared to December. However, that was the smallest January price fall since January 1990. Last January saw prices drop by 4.9%.