The UK is facing a growing cost of living crisis
Food prices in the UK have increased by 3.5% in the year to April. (Image: Sky News)
Retail price rose from 2.1% in March to 2.7% in April, according to the BRC-NielsenIQ price index.
This is inflation rate highest annual rate recorded by the UK since September 2011.
The numbers will increase pressure on Prime Minister Boris Johnson’s government to do more to resolve the crisis cost of living crisisannounced just one day before the local election.
Helen Dickinson, CEO of the British Retail Consortium (BRC), said: “The impact of rising energy prices and the conflict in Ukraine continued to weigh on retail prices in April.”
As of April, food prices were up 3.5% from 3.3% in March.
However, the increase was slower for fresh food, from 3.5% in March to 3.4% in April, which Ms. Dickinson attributed to “tough competition between supermarkets”.
Ms. Dickinson said: “Global food prices have hit a record high, up 13% month-on-month, and even higher for cooking oils and grains. As these costs are ‘filtered’ down the chain. supply, they will put upward pressure on food prices in the UK in the coming months.
Unfortunately, customers have to brace themselves for further price pressures and future prices to continue to rise.”
Prices of many essential goods in the UK will continue to rise in the coming months. (Photo: CNN)
Consumers are likely to limit their spending habits in response to rising inflation and rising costs of living, like money bills, said Mike Watkins, of research firm NielsenIQ. electricity.
The Bank of England has warned that the inflation rate, which was 7% in March, could surpass 8% this year.
As of April, the price of non-food products has increased by 2.2%, the highest level since the record in 2006. The figure as of March is 1.5%.
Ms. Dickinson said that furniture, electricity and books are seeing the biggest increase.
“This was exacerbated by disruptions at the world’s largest seaport, following the closure of Shanghai,” Ms Dickinson said.
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