Just last week the Bank of England sounded extremely confident that inflation would continue its gentle downward trend.
That theory has been contradicted by today's figures for July which show that both CPI and RPI inflation rose.
The increases have been driven by the costs of transport and clothing and are just another reminder of how unpredictable the economy is.
The rise in inflation means more misery for commuters as train companies can increase fares up by 6.2%. Will the Chancellor step in?
Today's inflation figures will give an indication of the level of rail fare increase we can expect in January. So what is driving that rise?
Commuters are braced for more misery as inflation figures were higher than expected meaning that train companies can charge more.