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UK food inflation expected to hit 6% by year-end, squeezing household budgets before Christmas.
Food inflation in the UK is expected to reach 6% by the end of the year, putting pressure on household budgets, especially before Christmas.
The British Retail Consortium (BRC) reports that 85% of businesses have already raised prices due to increased costs from the last budget, including higher employer national insurance and the national living wage.
Two-thirds of chief financial officers expect further price hikes, which could lead to job losses as 42% have frozen recruitment and 38% have reduced in-store jobs.
The BRC warns that food prices, currently at 4%, will rise by 6% year-on-year by Christmas.
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Se espera que la inflación de los alimentos en el Reino Unido alcance el 6% a finales de año, lo que reducirá los presupuestos de los hogares antes de Navidad.