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Supermarket wars help push inflation down.

Summary: Official figures have revealed that supermarket price wars and the falling cost of petrol helped push inflation down further from its peak.

Official figures have revealed that supermarket price wars and the falling cost of petrol helped push inflation down further from its peak.

The Consumer Prices Index rate of inflation fell to 4.8 per cent in November, the Office for National Statistics said, compared to 5 per cent the previous month.

The cost of food and non-alcoholic drinks rose at its lowest rate since July 2010 after supermarkets launched price wars and a strong harvest saw the price of fresh vegetables and bread fall.

A 1p per litre fall in the cost of petrol between October and November also helped ease the burden on cash-strapped consumers who had been hit by a 1.8p rise a year ago.

However, a utility tariff hike from big six supplier EDF continued to pile pressure on consumers, who are still struggling to cope with average wage growth far below the rate of inflation.

The cost of alcohol and tobacco also saw a record rise for an October to November period, mainly driven by red wine price

hikes.

Independent Television News Limited 2011. All rights reserved.

Independent Television News Limited 2011. All rights reserved.

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Publication:Independent Television News Limited (ITN)
Date:Dec 13, 2011
Words:221
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