Home Breaking News Cost of living crisis: Food inflation hits record high

Cost of living crisis: Food inflation hits record high

by LLB Reporter
2nd May 23 11:56 am

Food prices rose by a record annual rate of 15.7% last month, new figures found today.

It comes as pressure continues to mount on household finances amid the cost of living crisis.

Fresh food prices saw a record jump of 17.8% year-on-year for April, according to the latest BRC-NielsenIQ shop price index.

The price of ambient products, such as tinned goods and other store-cupboard items, went up 12.9%.

Shop prices went up 8.8% last month compared to the same period in the previous year.

Helen Dickinson, chief executive of the British Retail Consortium, said: “Overall shop price inflation eased slightly in April due to heavy spring discounting in clothing, footwear and furniture.

“However, food prices remained elevated given ongoing cost pressures throughout the supply chain.

“The knock-on effect from increased production and packaging costs meant that ready meals became more expensive and coffee prices were also up due to the high cost of coffee beans, as well as key producer nations exporting less.”

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