UK food inflation reaches record high but has room to grow

British Retail Consortium

Soaring food prices and a shortage of fruit and vegetables helped push UK food inflation to a record high in March, according to data from the British Retail Consortium.

Annual food inflation reached 15% last month, up from 14.5% in February. This was the highest level since records began in 2005. Higher inflation forces BoE to pursue rate rise in face of banking crisis The data resonates with the latest UK inflation data, that showed food and drink prices rose in February at the fastest annual rate since 1977.  Helen Dickinson, BRC chief executive, said that "shop price inflation has yet to peak", citing the rising sugar costs as another big factor. Some of the biggest price increases came from fresh food, as Dickinson explained that poor ha...