UK food and energy prices are rising twice as fast as those in Europe, report finds

Power and food bills in the UK are rising at twice the rate they are in the European Union.

A report from the Organisation for Economic Cooperation and Development yesterday showed that British bills surged at the fastest rate of any EU nation in October.

Energy costs rose by 24.2 per cent compared with the same time last year, the OECD said.

That was twice the gain in Finland, which recorded the second highest rate of power price inflation.

And UK grocery bills gained 10.1 per cent, a rate matched only by Finland.

Across the EU, the average for food inflation was 5.5 per cent, while energy costs were up 11.7 per cent.

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