UK food prices tick up 0.5% in January, with further increases forecast due to new costs.
UK food prices rose by 0.5% from December to January, with ambient food prices increasing by 1%. Despite a slight decrease in annual food inflation to 1.6%, the pace of deflation slowed to 0.7%. The British Retail Consortium warns that upcoming costs from the budget, including higher employer contributions and a new packaging levy, may lead to further price increases.
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