Food prices set to rise further

Food shop receipt

The cost of food is rising at double the rate of the average income and prices are set to rise further, according to the British Retail Consortium. 

Annual food price inflation in August was 3.1%, the same rate as the previous two months, but shoppers should expect to pay more for food in the coming months because of harvesting problems overseas.

"The price of products such as bread and pasta is already rising more quickly as increasing wheat costs from poor harvests in the USA filter through," says Stephen Robertson, director general at the British Retail Consortium.

"We are likely to see more of that effect not less in future months."

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