Economic Buzz: UK shop price inflation accelerates in December

UK shop price inflation accelerated in December due to higher increase in food prices, the British Retail Consortium said on Monday.

The shop price index posted an annual growth of 0.7 percent in December, following an increase of 0.6 percent in November. This was in line with the three-month average of 0.7 percent.

Non-food prices dropped 0.6 percent from the previous year, the same rate of decline as seen in November.

In contrast, food inflation advanced to 3.3 percent from 3.0 percent in November. Fresh food inflation rose to 3.8 percent from 3.6 percent a month ago.

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