Food inflation soared from 12.4% in November to hit 13.3% in December – the highest inflation rate in the food category on record, new data reveals.
The BRC-NielsenIQ Shop Price Index for December 2022 shows the rise was driven by fresh food inflation, which climbed to 15.0% in December, up from 14.3% in November.
Ambient food inflation accelerated to 11.0%, up from 10.0% in November and above the three-month average rate of 10.2%.
The rise was also the fastest rate of increase in the ambient food category on record, the British Retail Consortium (BRC) said.
Non-Food inflation meanwhile decelerated to 4.4% in December, down from 4.8% in November, in line with the 3-month average rate of 4.4%.
BRC Chief Executive Helen Dickinson said: “2023 will be another difficult year for consumers and businesses as inflation shows no immediate signs of waning. Retailers will continue to work hard to support their customers and keep prices low.
“However, further high investment in prices may no longer be viable once the government’s energy bill support scheme for business expires in April. Without the scheme, retailers could see their energy bills rise by £7.5bn. Government must urgently provide clarity on what future support might look like or else consumers might pay the price.”
