UK inflation: Shop prices yet to hit their peak - despite record highs seen in January

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UK inflation: Shop prices yet to hit their peak - despite record highs seen in January
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Inflation on fresh food has also reached a record high, as well as elevated fruit and vegetable prices - which rose from 11% to 11.3% in December.

Shop prices have yet to reach their peak - despite record highs seen in January, it has been warned.

Overall food inflation rose to 13.8% from 13.3% in December - the highest inflation rate in the category on record.'It's bad news for the UK economy' Ambient food inflation saw the fastest increase on record - from 11.3% from 11% in December - as wholesale and bulk prices rose, particularly for sugar and alcohol.

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