Publish date28 Sep 2022 - 22:49
Story Code : 567008

UK Food Price Inflation Reaches Record 10.6% in September, Retail Consortium Says

Food price inflation in the United Kingdom has reached a record 10.6% in September, the SkyNews broadcaster reported on Wednesday, citing the British Retail Consortium (BRC).

"Retailers are battling huge cost pressures from the weak pound, rising energy bills and global commodity prices, high transport costs, a tight labour market and the cumulative burden of government-imposed costs," BRC Chief Executive Helen Dickinson said in a statement published on trade association’s website.

Last week, the Bank of England raised its interest rate by 50 basis points to 2.25% from 1.75% per annum — the highest level since December 2008. According to the bank's forecasts, the annual inflation will reach its peak in October and will be slightly less than 11%.
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