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Food and oil push up inflation

Inflation soared above four per cent today on the back of record-breaking rises in the cost of fuel and household food bills, official figures showed. Inflation soared above four per cent today on the back of record-breaking rises in the cost of fuel and household food bills, official figures showed. The Consumer Price Index, the Government's official rate of inflation which is based on average household spending apart from mortgages, increased to 2.2 per cent in January. But the headline Retail Price Index, which also includes payments of home loans, rose to 4.1 per cent, straying further away from the Government's two per cent target. Nick Graham, chief executive of Shropshire Chamber of Commerce, said today's rise highlighted a difficult balancing act for local companies, which were having to either absorb higher costs, or pass the rise onto their customers. Read the full story in today's Shropshire Star

Business|Feb 12, 2008
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