The price of groceries and non-alcoholic drinks has risen by 4.1 per cent over the past year Kate Lee for The TimesFood prices are rising at their fastest rate in more than four years but the surge in inflation since the Brexit vote has almost peaked, official figures suggest. Data from the Office for National Statistics revealed that the price of food and non-alcoholic drinks rose by 4.1 per cent over the past year, the highest rate since September 2013, but that the price growth in raw materials at UK factories had begun to slow rapidly. The combination of sharp increases in food costs and slowing price growth in clothes, transport and household goods left the overall consumer prices index of inflation for last month unchanged since September at 3 per cent. Inflation for this month is still expected to rise as food prices have continued…

Source: The Times November 15, 2017 00:02 UTC