The food inflation in the United Kingdom has doubled in a month and it has pushed the shoppers into an awkward situation. Fall in pound after the EU referendum is what results in the big rise.
Some of the notable food items that has suffered rise in price include butter, which has seen a 15 % increase, fish, which saw an 8 % increase and tea which saw around 6 % increase. While the rise in the food prices are giving headaches to the common people, the supermarkets are benefiting from the same.
“While consumers may be starting to feel a very slight pinch, increased inflation has led to overall market growth. Simultaneously, combined sales at the UK’s four largest supermarkets increased by 0.5% year on year.” Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel said.