Inflation rises to 2.7%
Created: Feb 07, 2011 12:00 AM (Updated: Feb 07, 2011 03:50 PM)
Consumers paid 2.7 percent more for goods and services in December than they did a year before.The annual inflation rate climbed 0.4 of a percentage point from 2.3 percent in November.The Consumer Price Index, released this afternoon, showed up the cost of health and personal care up 7.7 percent from 12 months before as the biggest driver of inflation.The food and rent sectors were also strong drivers in annual inflation, up 2.4 percent and 1.6 percent respectively from a year ago. However, food prices fell by 1.6 percent between November and December, with notable decreases in the cost of fresh roast beef, green peppers and bacon.The inflation rate peaked at 3.4 percent in September last year.