Shops and supermarkets in Britain increased prices by 5.1% in the 12 months to August, reaching a new high as the war in Ukraine continues to push up food prices.
Food prices rose by 9.3% after a 7% increase in July, the British Retail Consortium said today (31 August). Fresh food inflation surged to its highest level since 2008, and products such as milk, margarine and crisps saw the biggest rises. This rise in shop price inflation is the largest since records began in 2005. Mike Watkins, head of retailer and business insight, NielsenIQ, who co-produces the data, said that we can expect this level of food inflation to be with us for at least another six months. "Hopefully some of the input cost pressures in the supply chain will eventually st...
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