Food and drink inflation has touched a three year-high point while overall inflation rose to highest level in over a decade, according to official figures released by the Office for National Statistics (ONS).
According to ONS figures, food and drink inflation has increased by 2.5 per cent in the last month amid supply chain disruptions.
As per ONS, the rate of Consumer Prices Index (CPI) inflation has risen from 4.2 per cent in October to 5.1 per cent in November, which is the highest since September 2011. The ONS reported surging prices across a range of goods and services, including fuel, energy, cars, clothing and food.
“We know how challenging rising inflation can be for families and households, which is why we’re spending £4.2 billion to support living standards and provide targeted measures for the most vulnerable over the winter months,” Chancellor Rishi Sunak said.
“With a resurgence of the virus, the most important thing we can do to safeguard the economic recovery is for everyone to get boosted now.”
Figures showed petrol prices jumped to the highest yet recorded – 145.8p ($1.93) a litre last month, up from 112.6p a year before while Gas prices jumped 28 per cent and electricity bills were up 19 per cent.
Labour, however, has outlined how the government has not done enough to tackle rampant inflation as “working people are hit with the biggest tax burden in 70 years”.
Shadow Chief Secretary to the Treasury Pat McFadden added: “These figures are a stark illustration of the cost-of-living crisis facing families this Christmas.
“Instead of taking action, the government is looking the other way, blaming ‘global problems’ while they trap us in a high-tax, low-growth cycle.”