Food inflation is Continues to grow until the end of the yearIndustry data has warned, potentially reached six percent In time for Christmas.
This means that a single pricier festival shop can be expected, as Stubbornly fixed headline inflation (CPI) prices continue to increase.
Currently about 3.5 percent, Bank of England Warned that inflation can reach four percent due to increase in food prices as it voted Fifth cut in interest rates in a year on Thursday.
Decision manufacturers pointed out the launder’s autumn, which grows as an contribution factor in rising inflation, arguing that the increase in the employer National Insurance Contribution (NICS) had to offer higher costs with increased prices.
The British Retail Consortium (BRC) has estimated that the cost of this policy and others have added an additional £ 7 billion to the retailer cost this year, like the cost of this policy and the increase in new packaging tax.
It will increase food inflation by six percent by the end of the year, predicts the industry body, faces challenges for domestic finance in the run until Christmas.
Meat, poultry and tea prices are rising the fastest this year, which may be partly associated with global factors such as high demand and crop issues.
In a recent survey by retail finance heads representing more than 9,000 shops, the retailer body found that two-thirds of the estimates they would have to increase more prices this year. About 85 percent of these said that he had already increased prices, with 42 percent, he said that he had put a hiring freeze.
Commenting on the decision of the bank’s interest, BRC CEO Helen Dicinson said: “Food prices are already climbing continuously, and BRC has warned that it is only the beginning. If the autumn budget once again lands on the shoulders. RetailersIt will then work only to fan the flames of food inflation – poor families will be hit by treasury decisions.
“While retailers are doing everything to mold their customers with rising prices, their ability to absorb forward costs is extremely limited. If the government proceeds with the limit of its employed high business rates for 4,000 big stores – then it also includes many supermarkets – then it will be simple – then it would be simple. Houses Which is the most afflicted. ,
