LONDON, Feb 19 (Reuters) – British inflation sped up by more than expected to hit a 10-month high of 3.0% in January and is likely to rise further soon, testing the Bank of England’s confidence that price pressures will ease over the longer term. Finance minister Rachel Reeves’ decision to increase employers’ social security contributions comes into effect on April 1 when Britain’s minimum wage is also due to rise by almost 7%, raising questions about how much the increased costs for businesses will feed into prices. Morgan Asset Management, said the higher-than-expected headline inflation rate, combined with strong wage growth figures announced on Tuesday, would cause “quite the headache” for the BoE. Overall, services prices – which feature prominently in the debate at the BoE about how quickly to cut interest rates – rose sharply to 5.0% from 4.4%, but by less than the 5.2% rate expected by economists or the central bank. The BoE forecasts that consumer price inflation will peak at 3.7% in the third quarter of 2025, driven mostly by higher energy costs and regulated tariffs for items such as domestic water supply. But Governor Andrew Bailey and his colleagues say an expected slowdown in the jobs market is likely to keep a lid on higher wage demands this year limiting the risk of a build-up of inflation pressure. Zara Nokes, global market analyst at J.P. Food prices also rose, while another factor was the increase in private school fees after the decision by the government of Prime Minister Keir Starmer to charge value added tax on them. Ruth Gregory, an economist with Capital Economics, said she still thought the BoE would continue to cut borrowing costs gradually but “the risk is that the rise in inflation proves more persistent and rates are cut more slowly than we expect, or not as far”. Core inflation, which excludes energy, food, alcohol and tobacco prices, rose to 3.7% from 3.2% in January, in line with the Reuters poll. Sterling momentarily strengthened against the dollar after the figures were published before quickly settling back to its pre-release level.

If you’re as magpie-like about jewellery as I am, you’ll always be on the lookout for new brands and original pieces to add to your collection. This British brand was launched in the autumn of 2024 by Tofi Caroline Adedoyin, a former investment banking director. But along with the prominent brands we all know and love, there are a load of under-the-radar gems (no pun intended) out there just waiting to be discovered. Otiumberg positions itself as a demi-fine jewellery brand. All Grove & Vae jewellery is designed in London, and created using 14k gold vermeil and rhodium-plated sterling silver. There are so many amazing affordable and mid-range jewellery brands out there today, with a plethora of choice no matter what your style. Tilly Sveaas founded her eponymous brand in 2016. Born in Hong Kong to British-Norwegian parents, London-based Tilly has been a jewellery designer for over 25 years, creating her first pieces during an extended trip to Bali, where she still produces to this day. Their goal is to make pieces that ‘will be your go-to for years to come’. Her signature T-bar necklaces have been worn by the likes of Taylor Swift. If you love keeping things unique and prefer to shop independent, these jewellery brands are worth checking out and keeping in mind for your next purchase. The brand’s founders, sisters Christie and Rosanna Wollenberg, believe you shouldn’t just save beautiful jewellery for best, so the sculptural rings and earrings are as practical as they are elegant.

Made by small workshops all over the world, each piece holds a story.

The brand focuses on creating timeless, versatile pieces tailored to the modern woman’s everyday wardrobe. So she decided to make her own. It specialises in bright, colourful jewellery. It always came with lengthy care instructions and still tarnished after only a few wears or turned my skin green’ she says. I was tired of sacrificing style for quality, or my bank account for both’ says Neima Row founder Naomi Genes. Founded by Amelia Hitchcock-Merritt in the middle of lockdown at just eighteen, Bijoux De Mimi became one of the fastest growing jewellery brands in the UK. After working in the jewellery industry for 10 years, Amelia Bainbridge saw a gap in the market for jewellery that was both beautiful and affordable – and Auree was born in 2014. All Auree pieces are made with the highest quality solid gold, sterling silver or gold vermeil and natural gemstones. Made by small workshops all over the world, each piece holds a story. Think timeless glamour meets modern minimalism, without the unattainable price tag. The pieces are gorgeous too – from delicate pendants to eye-catching hoops, available in either 18ct gold vermeil or sterling silver. Items are produced in developing countries, giving the artisans income to lift themselves and their families out of poverty. Crystals & Co. founders (and best friends) Emily Mackeogh and Leah O’Reilly aim to accessorise peoples lives with fun, high quality affordable jewellery. Catherine ‘Catch’ Rhys Jones started her label out of a frustration with the jewellery she was buying. With Love Darling believes in changing the world one piece of jewellery at a time. Prior to starting Bijoux De Mimi, Amelia attended Central Saint Martins. The brand uses solid metals – not plated or vermeil, and promises no green fingers or brass rash.

It was established in 2009, with the ethos that jewellery should say a lot about who you are, whether big and bold or delicate and gold. The ranges include a collaboration with Vogue Williams. The eclectic collection draws inspiration from founder Abby Kaye’s past experiences and travels through India, as well as her childhood in London and love of nature. Abby is a big believer in the talismanic and restorative power of jewellery, and strives to create designs that are both ethical and fashioned with love. Award winning British Jewellery Brand Scream Pretty was founded by Lucy Lee with her sister Jessica Pearce in 2016. This family run business designs jewellery for self expression; affordable, stylish and fun – jewellery to shout about. After growing up in Singapore, founder Lynette Ong left her job in finance to pursue a dream of using her creativity for the better. The brand is named after Olivia’s mother Deborah Louise who Olivia sadly lost to cancer in 2017. With the loss of her mother, Olivia felt life was too short to not be truly passionate about the everyday and D.Louise was born. Pieces are made in sterling silver with 18ct gold vermeil. Olivia’s pursuit began when she identified a gap in the jewellery market – the need for everyday pieces that wouldn’t fade after a few wears – with this every piece comes with a lifetime guarantee against colour fading. Dreamt up on a bicycle ride through Rajasthan, India, the British jewellery brand Memara was launched in 2019, with the aim to create beautiful, timeless yet affordable demi-fine pieces. Founded by Olivia Jenkins in 2021, D. Louise creates timeless long-lasting yet affordable jewellery. Scream Pretty’s signature style is the curated ear – combining piercings and ear cuffs, to create bold stand out styling.

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Inspired by a wealth of artisans selling beautiful jewellery on her travels around Asia, Edge of Ember was born. Deborah is very mindful that the business be as sustainable as possible, and so she uses recycled silver and gold in all of the pieces. The Cult of Youth collection has since expanded to include on-trend, fashionable jewels with a rock ‘n’ roll edge at accessible price points. The collection includes base earrings and chains, complemented by a range of interchangeable statement pendants to customise your look. Designs are hand crafted through the process of lost wax casting in her studio, and stone setting takes place nearby in Hatton garden. Harfi’s mission is to bring affordable, demi-fine jewellery to shoppers, working directly with its artisan partners. Founder Sally Louise was inspired by the films of grandparents’ time, from Casablanca to Gone with the Wind and Lawrence of Arabia. The sisters draw inspiration from their combined passion for art, fashion, travel, music, and culture across the South Asian diaspora to unify and celebrate cultural heritage and nostalgia with the present day. In 2015, the brand shifted tack as Seymour gave birth to her son, Elvis, and started to document her life as a single mother, entrepreneur and jeweller. These stories of romance, travel and history were the founding concept behind Carousel Jewels: modern jewellery that takes us back. London-based jewellery designer, Deborah Blyth began designing in 2004, whilst living in Italy. With dual Mauritian-Trinidadian heritage and London roots, the co-founder’s mission is to create inspired, authentic, and expressive jewellery made with a conscience. Cult of Youth is a London-based silver jewellery brand founded by Kelly Seymour in 2011. The brand started out on a stall at Portobello Market, before being picked up by Urban Outfitters and sold at its stores. Her passion for the arts and love of nature combined to influence her process, which finds beauty in imperfections. Stellar 79 is a British demi-fine jewellery brand created by sisters Natasha and Sheena. A silver letter necklace spelling out MAMA became a bestseller, and this motif has been applied to new styles including rings and lockets. Each piece of jewellery is created from start to finish within a small area of North London.