Food Inflation: Rising Chocolate and Butter Pris Drive Up Rates

The rising cost of chocolate, butter and eggs have helped drive food price inflation to its highest in 18 months, a survey says.

Food Inflation Hit 4.2% This month, compared with 4% in July, according to the British retail consortium latest shop price monitor. It is higher than at any time since March of last year, when it was 3.7%.

The Figure echoes separate recent data from the office for national statistics, which found the cost of everyday food items rising by a similar Amount Over the last year.

Helen dickinson, the BRC’s Chief Executive, said there was some results for parents as the new Academic Year Approaches, with cheaper clothing, books and stationery.

MS Dickinson Said Staples Including Butter and Eggs Had Seen “Significant Increases” Due to High Demand, Tightening Supply and Increased Labor Costs.

“Chocolate Alas Got more Expensive as Global Pries of Cocoa Remain High Owing to Poor Harvests,” She Said.

POOR COCOA Harvests Have Been Cured by Climate Change and Crop Disease.

“There was some respected for parents ahead of the new academic year, with lower prices for clothing, books, stationery, and computing.”

Mike Watkins, Head of Retailer and Business Insight at NIQ, which compiles the BRC’s Shop Price Monitor, said the UPTICK Reflected “Several Factors”.

These inclined global supply costs, seasonal food inflation drive by weather conditions and a risk in underling operational costs.

“As Shoppers Return from their summer holidays, many may need to ressesss household budgets in Response to Rising Household Bills,” He Added.

Increasing food prices added to increase in overall inflation in the year to July.

The latest official figures from the ons put uk inflation – as measured by the consumer price index (CPI) – At 3.8%, up from 3.6% in June.

According to the Ons, the cost of food and non-alcoholic beverages rose 4.9% in the year to July, up from from 4.5% in the year to June.

Its data also showed an even starker long-term picture, with food prices increasing by around 37% in the five years to July.