Inflation reaches 30-year high as meat prices rise
Meat was among the food groups making the largest contributions to a rise in inflation in the 12 months to December 2021.
According to the Office for National Statistics (ONS), the Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate rose to 4.8% last month, its highest rate since September 2008.
Food and non-alcoholic beverages made the largest upward contribution to the change in the CPHI 12-month inflation rate, with eight of the nine food groups increasing the headline rate. Among the food groups, the largest contributions came from bread and cereals, and meat, followed by vegetables, potatoes and other tubers.
The Consumer Prices Index (CPI) rose by 5.4% in the 12 months to December, up from 5.1% to November. This is the highest figure for 30 years – the 12-month inflation rate reached 7.1% in March 1992.