US EditionFood inflation jumps to 18-month high as chocolate and butter prices rise
Food inflation in the UK rose to 4.2% in August, driven by higher costs for chocolate, butter, and eggs, adding pressure to families amid rising living expenses, British Retail Consortium said.
- This month, the British Retail Consortium said food inflation hit 4.2%, up from 4% in July, the fastest rise in 18 months driven by chocolate, butter and eggs in the United Kingdom.
- Earlier this month, the Bank of England said the national insurance contributions increase in April and £7 billion from last year's budget created an uphill battle for retailers.
- Fresh food inflation sped to 4.1% in August from 3.2% in July, while overall shop price inflation rose to 0.9%, despite 0.8% deflation in non-food products, Mike Watkins said.
- More than 60 retail bosses warned Chancellor Rachel Reeves last week that food and drink inflation could reach 6% later this year, adding pressure to families facing cost-of-living pressures.
- Historical trends reveal food prices rose 4.9% yearly to July and climbed roughly 37% over five years, with climate-related factors risking poverty for almost 1 million, says Autonomy Institute.
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Total News Sources43
Leaning Left3Leaning Right2Center25Last UpdatedBias Distribution83% Center
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83% Center
C 83%
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