https://sputnikglobe.com/20220928/uk-food-price-inflation-reaches-record-106-in-september-retail-consortium-says-1101299496.html
UK Food Price Inflation Reaches Record 10.6% in September, Retail Consortium Says
UK Food Price Inflation Reaches Record 10.6% in September, Retail Consortium Says
Sputnik International
MOSCOW (Sputnik) - Food price inflation in the United Kingdom has reached a record 10.6% in September, the SkyNews broadcaster reported on Wednesday, citing... 28.09.2022, Sputnik International
2022-09-28T08:07+0000
2022-09-28T08:07+0000
2023-05-28T15:21+0000
world
inflation
united kingdom (uk)
https://cdn1.img.sputnikglobe.com/img/07e6/08/16/1099862692_0:320:3073:2048_1920x0_80_0_0_486e70b482a17fa73a24370b5a974d6a.jpg
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.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%.
united kingdom (uk)
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2022
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
News
en_EN
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
inflation, united kingdom (uk)
inflation, united kingdom (uk)
UK Food Price Inflation Reaches Record 10.6% in September, Retail Consortium Says
08:07 GMT 28.09.2022 (Updated: 15:21 GMT 28.05.2023) 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%.
