Food Inflation Rises Again as Steaks and Fresh Goods Hit

by Josie Clarke
Yahoo! News

UK shop prices remained stagnant in May, despite a fourth consecutive month of rising food inflation, new data reveals.

The British Retail Consortium (BRC)-NIQ Shop Price Index showed overall shop prices were 0.1 per cent cheaper than a year ago, mirroring April’s figures.

This overall deflation masks a significant rise in food prices, now 2.8 per cent higher than last year, accelerating from April’s 2.6 per cent increase. Wholesale meat price hikes are a key driver, impacting the cost of steak in particular.

Fresh food inflation is also climbing sharply, with prices 2.4 per cent higher than May 2023, a notable jump from April’s 1.8 per cent rise.

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