Inflation measures, the Consumer Price Index and Retail Price Index are up - accelerating again through March to April.
Data released at 10:30am this morning show that April's figures are a seventeen month high, arguably, because of the rise in VAT since January, triggering an otherwise unremarkable rise.
Howard Archer, chief economist at IHS Global Insight, said he expected inflation to begin falling again immediately.
"April's consumer price inflation rate of 3.7% should mark the peak," he said, pointing out that the effects of the VAT rise should only be temporary 'as upward pressures start to unwind'. he said.