Shoppers have been hit by the highest price rises in almost a decade as the cost of living soared over the past month, new data suggests.
Annual shop price inflation jumped from 0.8% in December to 1.5% in January – the highest rate since 2012 – according to the latest BRC-NielsenIQ shop price index.
In the same period, ambient food inflation jumped from 1.7% to 2.4% while overall food inflation rose from 2.4% to 2.7%.
