Food price inflation “hits 9.5%”


Food prices jumped by 9.5% in July compared with the previous year, according to new figures released by the British Retail Consortium (BRC) and Nielsen.


Stephen Robertson

The BRC-Nielsen Shop Price Index stated that fresh food prices jumped by 10.8% compared with July 2007, while year-on-year ambient food inflation hit 7.4%.

According to the organisation, increasing pressure is being exerted upon the grocery sector in the UK by growing operating costs in response to transport and energy price changes.

Yet consumers are being slightly protected by global food inflation, the Producer Price Index figure of 11.8% suggests, the BRC added.

Director general Stephen Robertson said that customers are not having the full level of inflation passed on to them.

He stated: “Overall food prices are rising but retailers are keeping increases well below the extra supply and operating costs they face.”

Shoppers are beginning to spend less on groceries as they find that other bills such as fuel rises, stated senior manager of retailer services at Nielsen Mike Watkins following research by the firm.

Overall annual shop price inflation stood at 3.2% for the month of July, the study found. In June this figure was 2.5%.

Similar News Items

Comment on this story:

*

Your comment:

Please type the characters shown below:

TalkingRetail.com, Metropolis Business Publishing, 6th Floor Davis House, 2 Robert Street, Croydon, CR0 1QQ
TalkingRetail.com and Independent Retail News are published by Metropolis International Group Ltd, 140 Wales Farm Road, London, W3 6UG.
Registered in England no. 2916515

v3.0