Fall in inflation but food costs keep rate at 40-year high - The Evesham Observer

Fall in inflation but food costs keep rate at 40-year high

Evesham Editorial 18th Jan, 2023   0

Price rises in the UK slowed for a second month in a row but the cost of food including milk, cheese and eggs kept inflation at a 40-year high.

Inflation, which measures the rate of price rises, fell to 10.5 per cent in the year to December from 10.7 per cent in November.

Petrol and diesel costs eased last month but food prices continued to soar, reaching the highest since 1977.

Restaurants and hotel prices also jumped in December along with a record rise in air fares.

Millions of people are struggling with the cost of living which has been rising steadily as Covid restrictions eased and Russia launched its assault on Ukraine.

Food prices rose 16.8 per cent in the year to December though households splashed out for Christmas, according to the Office for National Statistics (ONS).

Basics such as milk, cheese and egg saw the largest increases. Prices for sugar, jam, honey and chocolate as well as soft drinks and juices also jumped.

However, price growth slowed for bread and cereals.

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