Philip Shaw, chief economist at Investec Securities, is pencilling in a rise to 2.9% last month and warned that CPI is heading for 3% by the summer:
This is getting close to the level - above 3% - where Sir Mervyn King or his successor Mark Carney would have to write another explanatory letter to the Chancellor.
We think this is likelier than not to happen, but on our profile we do not expect it until around mid-year
Price increases from four of the "big six" energy suppliers came into effect by the end of December in a winter blow to consumers.
It is thought that this will have been partially offset by lower fuel costs as oil prices have fallen, while food inflation is also likely to be below the 1.4% jump seen a year earlier.
More top news
Donald Trump has wasted no time making his mark on international matters as well as domestic. So how will his presidency affect the world?
Another cold, frosty and foggy night for many. Northern and western areas will see thickening cloud, patchy rain and milder temperatures.
Temperatures have already plunged to -12C in some parts of the UK this winter - but Thursday could be the coldest day yet.