New data from the Office for National Statistics (ONS) shows food prices last month were up by 4.2% on 12 months earlier, a sharp increase on the 0.6% that food inflation was running at just a year ago. Stephen Clarke, policy analyst at the Resolution Foundation, said poorer families would be hardest hit by the jump in food prices. Show Hide Inflation is when prices rise. So-called core inflation – which excludes food, energy, alcohol and tobacco – remained at 2.7% for a third month. Separate ONS figures for producer price inflation – a guide to price pressure at an early stage in the pipeline – fell back sharply last month.

Source: The Guardian November 14, 2017 10:58 UTC