Inflation figures are set to remain stubbornly high, pushing up prices at petrol pumps and leading to rising rail fares.
Retail prices index (RPI) inflation is expected to remain stuck at 3.3% for July, giving train companies licence to push through regulated price rises of 4.3% next year as the annual rail fare rise is tied to last month's index.
The combination of rising prices underline intense pressure on household budgets, with economists on average expecting the headline measure of inflation, the consumer prices index (CPI), to remain at around 2.9% in July.
Higher transport costs will negate slowing price rises for food and more discounting by fashion retailers, ensuring the rising cost of goods continues to outpace anaemic wage growth which increased just 1.7% in the year to May.
Economists at investment bank Societe Generale said the figures will be a mixture of "food, fuel and summer sales", adding: "Overall these effects should cancel one another out."
The Government determines rail price rises by allowing fares to rise one percentage point above July's RPI measure. January's price hike would follow this year's 4.2% average rise in regulated fares, such as season tickets, which led to overall rail fares increasing by around 3.9%.
The higher price of Brent crude oil on global markets has also driven up costs for motorists in recent months, and economists warned to expect that to continue into July as average oil prices rose to 108 US dollars (£70) per barrel, from 102.9 US dollars (£66.40) in June.
Inflation has remained consistently above the Government and Bank of England's 2% target since December 2009.
Last week new bank governor Mark Carney revealed that interest rates will not rise until unemployment has fallen below 7%, adding a new threshold for economic stimulus on top of its price stability responsibility.
Despite being given a looser remit on inflation by Chancellor George Osborne, Mr Carney insisted the link to unemployment will be severed if there are fears that inflation is rising out of control. The bank has an "unwavering commitment" to price and financial stability, he said, adding that the new policy of forward guidance on rates is vital to secure economic recovery.