Rising petrol and food prices are expected to push up official inflation figures released later today.

Economists predict that the Consumer Price Index (CPI) rose by 1.1% in November, compared to 0.9% in October and 1% in September.

It comes as a number of firms have described the impact that rising costs associated with Brexit are having on their businesses.

Harriet Hastings, managing director of luxury snack boutique Biscuiteers, told Sky News she has seen the price of butter soar by 80% since June.

She said: "We're not seeing the full impact yet, but we will see the impact down the line.


"I think it's just a question of how long we can hold our pricing model and absorb those price increases."

Image: Economists predict the Consumer Price Index will go up to 1.1% in November

Another staple item that will be more expensive this Christmas is turkey. Paul Kelly runs an organic turkey farm in Chelmsford, which supplies to Waitrose and Ocado.

The farm's 43,000 birds are fed on grain made from a mixture of soya and wheat, which is imported from South America.

Mr Kelly told Sky News the depreciation in sterling since the Brexit vote has pushed up the price of the turkey feed and subsequently the cost of his produce by 3%.

He said: "Since Brexit we have seen this huge disparity between food prices. It's such a very volatile market at the moment.

"We are concerned for next year but I've given up trying to speculate and try not to worry anymore as we are all in the same boat."

The Bank of England predicts that inflation on an average basket of goods will rocket from around 1% to 2.7% by the end of next year.

Image: Rising petrol prices are expected to push up official inflation figures

Experts say households are still able to get a good deal if they shop around and make the most out of the price war engulfing discount supermarkets on the high street.

However, Loraine Hudson, market analyst at business management consultancy Mintec, says customers should be prepared for more expense in 2017.

She said: "Some prices have risen over Christmas, but we are kind of expecting that this could be the cheapest Christmas for the next year or maybe even the year after.

"We expect to see price inflation to continue for the next two years."