Shop prices in the UK grew at the fastest rate in more than a decade in May, driven mainly by accelerating food inflation.
According to the latest shop price index from the British Retail Consortium (BRC) and NielsenIQ, retail price inflation rose to 2.8 percent in May, the highest figure since July 2011.
It said this accelerated from a 2.7 percent rise in April as rapidly rising food prices offset discounting and promotions in clothing and homeware.
BRC chief executive Helen Dickinson said: “Retail prices edged up further as commodity, energy, and transport costs continued to climb.”
“Fresh food inflation hit its highest rate in a decade, with items like poultry and margarine seeing some of the largest increases due to soaring costs of animal feed and near-record global food prices,” she added….