FXstreet.com (Barcelona) - Inflation at consumer level has posted the biggest increase of 2007 so far in October in the United Kingdom pushed by the rising costs of fresh food which filtered to overall prices index, according to the latest shop prices report published by the British Retail Consortium.
Prices have increased 1.1% in October compared to the same month last year, this is the highest year-on -year increase seen so far in 2007, sharply larger than the 0.4% rise seen in September. Food prices, the major contributor for the increase, have risen 3.7% on the year.
On the month, shop prices have increased 0.5% after the 0.2% increase posted in September, caused mainly for the 1.4% monthly rise in food prices the highest increase in food since records were collected in December 2005. Excluding food prices, prices of all other products remained unchanged on the month.