US EditionUK food inflation highest in 11 months, likely to rise further, BRC says
- The British Retail Consortium reported that UK food inflation reached its highest level in 11 months in April, driven by rising prices for everyday essentials.
- This increase follows supply chain cost pressures, new employment expenses, and tax rises from October's packaging tax and the previous autumn Budget.
- Retailers face challenges absorbing about £7 billion in increased costs, while Tesco indicated escalating price competition and forecasted a significant profit decline next year.
- Food prices increased by 2.6% year-on-year in April, up from 2.4% in March, with fresh food costs rising by 1.8%. Helen Dickinson noted that the period of falling shop prices appears to be coming to an end.
- The food sector expects inflation to reach 4% later this year, suggesting continued price rises that may limit consumer discretionary spending and strain local businesses like fish and chip shops.
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27 Articles
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Food inflation highest in almost a year - more to come, industry warns
The British Retail Consortium sees a threat that rising costs, including tax rises, will be passed on to customers - but separate data suggests a supermarket price war are keeping increases in check for now.
UK food inflation highest in 11 months, likely to rise further, BRC says
British food price inflation jumped to its highest in nearly a year in April, according to a survey published on Tuesday that said higher costs for retailers could put further upward pressure on shop prices.
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