FXstreet.com (Barcelona) - Shop prices have increased in November at the same pace than in October, as expected, despite food prices accelerating to a new high, which could be offset by deflation on non food items that kept inflation well below the CPI, according to the latest report by the British Retailers Consortium.

On the year, shop prices have grown 1.1% the highest growing rate on the year caused mainly by increasing food prices, which have reached a record year-on-year rise with a 4.3% jump from November 2006; in October, the year-on-year rise was 3.7%.

Non-food prices, however, have remained at a lower price than a year ago decreasing 0.4%; which follows a 0.2% fall year-on year posted in October.

Prices have grown 0.5% on the month, being food again the hardest upward pressure, with a 0.7% increase on the month, following a 14% rise in October.