Summary
Food prices in the UK have hit an 18-month high due to rising costs of items like chocolate, butter, and eggs. The British Retail Consortium reported a food inflation rate of 4.2% this month, with poor cocoa harvests and increased operational costs contributing to the increase. Inflation in the UK, as measured by the Consumer Price Index, has also risen, impacting overall living costs.
Key Facts
- Food price inflation in the UK reached 4.2% in August.
- Rising prices for chocolate, butter, and eggs drove the increase.
- Poor cocoa harvests were caused by climate issues and crop diseases.
- Cheaper clothing, books, and stationery offered relief for parents.
- Global supply costs and weather conditions contributed to food inflation.
- UK inflation, measured by CPI, rose to 3.8% in July.
- Over five years, food prices have increased by about 37%.
