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%.