The economists got it wrong, again.
Despite widespread predictions of inflation rising to 2.1% for the year to February, the Consumer Prices Index (CPI) has instead 'surged' to 2.3%.
'Surged' might be overstating the increase, which was up from 1.8% in the year to January, but it's certainly a sizeable increase.
A lower Pound Sterling from last year is now feeding through into higher consumer prices, especially for food.
Interestingly, house price inflation appears to be going in the other direction - this could signal the start of things to come as Brexit negotiations begin, with higher consumer prices and lower house prices.
When considering your long-term Financial Plans, price inflation is an important assumption.
For the past few years we have been in a very comfortable low inflation environment, consistently below the Bank of England target of 2%.
With price inflation now higher than 2% and on the rise, but low interest rates being maintained, it's important to revisit Financial Plans and ensure your investments are correctly positioned to deal with this outlook.
Inflation has climbed more sharply than expected to 2.3%, its highest level since September 2013, official figures show.