Food Inflation Now At 23 Month High
According to a new report by the British Retail Consortium (BRC), food inflation has increased to 4.9% which is a 23 month high.
The biggest riser was wheat which increased 72% over the year while gas and electricity prices have began rising with Scottish Power’s price increase.
Analysts are now warning that the increase in both fuel and food prices could put pressure on the Bank Of England to increase interest rates.
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