Food costs push inflation to record 4.4%

This 0.6% leap in the annual rate is the highest change since records began in 1997 and double the Government’s 2% target. The largest upward pressure again came from food and nonalcoholic beverages which rose from an annual rate of 9.5% in June, to 12.3% in July. Food inflation alone has spiralled to a CPI record 13.7% on the year, up from 10.6% in June. The average price of petrol at the pumps increased by 1.2p per litre between June and July this year, to stand at 118.8p, compared with a fall of 0.4p last year. Air passenger transport was a significant contributor too, rising from ...