Shop prices rose by their fastest rate in almost three years in the run-up to Christmas in the UK- this amid the highest rate of inflation for fresh food in almost a decade.
Food producers and supermarkets have warned of rising prices due to significantly higher labour costs and energy costs.
Helen Dickinson of the British Retail Consortium said: “The trajectory for consumer prices is very clear - they will continue to rise and at a faster rate.
Retailers can no longer absorb all the cost pressures arising from more expensive transportation, labour shortages and rising commodity and global food prices.”
