UK FOOD UP

Food prices rose 16.8% in the year to December as many families splashed out for Christmas, according to the Office for National Statistics (ONS).

Food price inflation in the UK reached a record of 13.3 per cent in December, up from 12.4 percent in November.

The British Retail Consortium said it was the highest monthly rate since it had begun collecting data in 2005.

The BRC said that higher prices for animal feed, fertiliser and energy had led to higher prices on supermarket shelves.

Meanwhile the general rate of inflation had cooled slightly dipping to 10.5  percent by the end of the year from a high of 11.1 percent in October.