Food inflation suffered a slight uptick last month, having risen 0.1 percentage point to 2%, according to the latest data from the Office for National Statistics (ONS).

Despite the marginal increase, British Retail Consortium director of insight Kris Hamer said that certain meats such as pork, lamb and beef have all fallen in price on the month.

Overall consumer price inflation also rose to 2.6%, up from 2.3% in October, while alcoholic beverages and tobacco saw a slightly steeper 1.6 percentage point increase to 6.9%.

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CPI rose by 2.6% in the 12 months to Nov 2024, up from 2.3% in Oct 2024.

Read the release ➡️ https://t.co/c7fPzGpIRc pic.twitter.com/xymm6zzBFR

— Office for National Statistics (ONS) (@ONS) December 18, 2024

Hamer said: “Retailers are doing their upmost to deliver an affordable Christmas for their customers in the face of global price pressures.

“For an industry that operates on low margins, £7 billion of increased costs from higher employer NI, National Living Wage, and new packaging levies, cannot simply be absorbed, despite retailers’ best efforts.

“Retailers are watching the government’s proposed changed to business rates closely, and it is essential that it leaves no store paying more in rates than before. By protecting shops, the government can support retailers as the invest in keeping shops open, and keeping prices down.”

Last month, more than 70 UK retailers warned Chancellor Rachel Reeves that her decision to increase employers’ National Insurance contributions in the Budget will lead to “inevitable” job cuts and price rises.