Food & Petrol Prices Hit Inflation

Inflation figure up on food and fuel price rises

Inflation figure up on food and fuel price rises

January’s inflation figure rose by 0.1% in January to 2.2%. Inflation for December was 2.1%.

The current 2.2% rate is the highest since June 2007 and is above the Chancellor’s target figure of 2%.

The Office of National Statistics which produces these figures attributed the biggest pressure on the rise to an increase in fuel prices. January saw the average petrol price rise by 1.3p a litre to £103.9p a litre.

Yesterday truckers met with Alistair Darling to discuss the government’s own proposed price hike of 2p a litre on road fuel from 1st April. The representatives highlighted that road hauliers were "already struggling" and that "the economics of road freight transport operations were at serious risk as a result"

Food prices also contributed to the increase in the inflation rate.

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