The rising price of chocolate, butter and eggs has helped drive meals worth inflation to its highest in 18 months, a survey says.
Meals inflation hit 4.2% within the yr to August, up from 4% in July, in response to the British Retail Consortium’s newest store worth monitor. It mentioned store costs total have been rising on the quickest charge since March of final yr.
The determine echoes separate latest information from the Workplace for Nationwide Statistics, which discovered the cost of everyday food items rising by a similar amount over the last year.
Helen Dickinson, the BRC’s chief government, mentioned there was some respite for fogeys as the brand new tutorial yr approaches, with cheaper clothes, books and stationery.
Ms Dickinson mentioned staples together with butter and eggs had seen “important will increase” as a result of excessive demand, tightening provide and elevated labour prices.
“Chocolate additionally received dearer as international costs of cocoa stay excessive owing to poor harvests,” she mentioned.
Poor cocoa harvests have been caused by climate change and crop disease.
“There was some respite for fogeys forward of the brand new tutorial yr, with decrease costs for clothes, books, stationery, and computing.”
Mike Watkins, head of retailer and enterprise perception at NIQ, which compiles the BRC’s store worth monitor, mentioned the uptick mirrored “a number of components”.
These included international provide prices, seasonal meals inflation pushed by climate circumstances and an increase in underlying operational prices.
“As buyers return from their summer season holidays, many might must reassess family budgets in response to rising family payments,” he added.
Rising meals costs added to extend in overall inflation in the year to July.
The newest official figures from the ONS put UK inflation – as measured by the Shopper Worth Index (CPI) – at 3.8%, up from 3.6% in June.
In response to the ONS, the price of meals and non-alcoholic drinks rose 4.9% within the yr to July, up from 4.5% within the yr to June.
Its information additionally confirmed an excellent starker long-term image, with meals costs rising by round 37% within the 5 years to July.
