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

© AP Photo / Frank Augstein / Shoppers buy food in a supermarket in LondonShoppers buy food in a supermarket in London
Shoppers buy food in a supermarket in London - Sputnik International, 1920, 28.09.2022
MOSCOW (Sputnik) - 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).
In August, UK food inflation stood at 9.3%. Meanwhile, prices for fresh food products rose by 12.1% year-on-year. In addition, inflation for long-term storage products, such as pasta and tinned tomatoes, reached a record 8.6%, up from 7.8% in August, which is the fastest rate of increase for the category, according to the broadcaster.

"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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