Sat. Jan 16th, 2021

UK inflation at three-year low despite rising chocolate prices – business live

Rolling coverage of the latest economic and financial news


11.58am GMT

Inflation is rising particularly briskly in the North of England, according to think tank NIESR.

NIESR (the National Institute of Economic and Social Research) has calculated that ‘underlying inflation’ rose by 1% across the UK (this measure excludes ‘extreme price movements’).

“Headline CPI inflation remained unchanged at 1.5 per cent in the year to November 2019.

Our analysis of approximately 130,000 goods and services included in the basket, indicates that higher inflation related to food and non-alcoholic beverages and recreation and culture was offset by lower inflation in alcoholic beverages and tobacco, clothing and footwear, and restaurants and hotels.

11.19am GMT

A quick dig into November’s inflation report shows that the price of some types of food have risen sharply.

Chocolate, for example, is 4.3% more expensive than a year ago.

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