Food inflation jumps to 18-month high with these items seeing a price rise
According to the latest figures, food prices increased at the fastest speed in 18 months with fluctuations in chocolate, butter and egg cost. T
He British Retail Consortium (BRC) -NIQ Shop Price Monitor has pointed out the highest level since February 2024 and shows that food inflation has reached 4.2% from 4% this month. The bosses in the trade organization warned to families struggling with the cost of living, “adding pressure,” he warned.
Fresh food inflation rose to 4.1% for the month behind milk prices rising from 3.2% in July.
Meanwhile, the environment of food inflation slowed up to 4.2% annually compared to 5.1% of the previous month.
New figures also showed that despite the price deflation of 0.8% for non -food products, the general store price inflation increased to 0.9% in August.
The increase in food prices comes after the UK Bank said that at the beginning of this month, the increase in national insurance contributions in April contributed to the acceleration of food prices.
BRC General Manager Helen Dickinson said: “Shop price inflation has reached its highest rate of rising food since March last year.
“This adds pressure to families struggling with the cost of living.
“Retailers continue to do everything they can to limit price increases for household peoples, but as the Bank of England accepted, new costs flowing from the last year’s budget created a war for retailers.”
More than 60 retail bosses, including Tesco, Sinsbury’s and chefs in Boots, warned Luckbot Rachel Reeves last week that further increasing in the autumn budget of the Autumn budget could contradict the plans to improve the UK.
In a letter coordinated by BRC, the bosses said they expect the food and beverage inflation rate to reach 6% this year.
Mike Watkins, President of NIQ Retail and Business Insight, reflects various factors: Global supply costs, seasonal food inflation directed by weather conditions, the result of the results of promotional activities connected to the latest sports events and the increase in the underlying operational costs.
“As shoppers return from the summer holidays, many of them may need to re -evaluate their budgets of households in response to rising home bills.”
