Food costs drive UK shop price inflation to highest level since 2008

Up by 3.1% in June

clock • 1 min read
Yearly fresh food inflation reached the highest inflation rate since May 2009.

Yearly fresh food inflation reached the highest inflation rate since May 2009.

Shop price inflation in the UK accelerated to a near 14-year high in June, powered by a sharp rise in food prices as retailers battle rising supply chain expenses and a decline in consumer spending.

Shop prices were up by 3.1% in June, up from 2.8% in May, the highest rate of inflation since September 2008, powered by 5.6% growth in food prices, according to figures from the latest British Retail Consortium-NielsenIQ tracker. Yearly fresh food inflation alone raced to 6.2% in June versus 4.5% in May — the highest inflation rate since May 2009. It comes after the latest figures from the Office for National Statistics showed that UK inflation rose to 9.1% in May, setting a new 40-year high amid record prices for petrol and the rising cost of food. UK inflation hits 40 year high ...

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