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The Markets
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Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
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UK food and drink prices rise at fastest rate since 1977

Overall inflation including housing costs fell from October to November 2022, but the cost of food and non-alcoholic drinks has continued to rise, according to data from the Office for National Statistics (ONS).

The headline inflation figure fell to 9.3% in November from 9.6% in October but food and non-alcoholic drink inflation rose by 16.5% in the 12 months to November 2022, the highest increase since September 1977 (17.6%).

Staple foods, such as breads and cereals, have seen the largest price increases in the last month, increasing by 1.9%, with the most vulnerable appearing to be the hardest hit, with 61% of those in the most deprived areas buying less food compared with last year, as opposed to 44% in the least deprived areas.

The inflation gap between low-income and high-income households is the largest it has been since March 2009 with annual inflation for low-income households 10.5% in the year to October 2022, while the figure for high-income households was 9.1%.

With Christmas just days away, over four in five adults (81%) reported to the Food Standards Agency (FSA) that they were concerned about the cost of food during Christmas and New Year – up from 62% in the same period last year.

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