British inflation hits one-year high in Jan

Britain's annual inflation rate rose in January to its highest level for a year, buoyed by the higher prices for clothing and alcohol, official data showed Tuesday.

The 12-month Consumer Price Index (CPI) rose by 0.3 percent last month, after registering 0.2 percent in December, the Office for National Statistics (ONS) said in a statement.

Alcohol and tobacco increased by 1.3 percent compared with January 2015, when there had been heavy discounts on beer.

Inflation also rose as fuel and food prices fell by less than they experienced one year ago.

Despite the rise in the CPI, British inflation still remains historically low, with the Bank of England predicting it will remain below the government's official 2.0-percent target for some time yet.