UK - Annualized Increase In Transport Costs 7% - Food Prices Rising At Fastest Rate In 17 Years

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Families already struggling to cope with the credit crunch face huge increases in food and transport bills, official figures have revealed today.

The ONS figures showed the highest upward effect on inflation coming from transport costs, mainly due to rising air travel prices on European and long-haul routes.

The annual rate of increase for transport costs reached 7% - the highest since records began in 1997.

Food costs are also rising faster than at any time since 1991 and the average shopping bill is likely to go up by £600 a year. With the international cost of cereals up by almost half in a year, British meat and dairy products have soared in price.

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