Oil price is low but inflation is high.
http://www.bloomberg.com/apps/news?pid=206...YI&refer=uk
"Transport, along with furniture and household goods, pushed the consumer-price index higher in December, the statistics office said. Transport prices, boosted by higher fuel costs, contributed 0.2 percentage point to the index, while the share for furniture and household goods was 0.11 point."
What's going on ?