Selasa, 28 Maret 2023

Chocolate and sweets prices jump ahead of Easter - BBC

A selections of chocolate Easter goodsGetty Images

The prices of chocolate, sweets and fizzy drinks have shot up ahead of the Easter holidays, as the cost of food continues to rise at a record rate.

The British Retail Consortium (BRC) said higher sugar and manufacturing costs had helped push food price inflation to 15% in the year to March - up from 14.5% in February.

Fruit and vegetable prices also climbed due to availability issues, it said.

But the trade group said it expected food price rises to ease soon.

"Food price rises will likely ease in the coming months, particularly as we enter the UK growing season, but wider inflation is expected to remain high," said BRC chief executive Helen Dickinson.

Food prices have surged over the last year as soaring energy prices have driven up the cost of production and extreme weather has affected harvests.

The BRC said fruit and vegetable prices had risen in March after bad weather in Spain and North Africa caused availability issues. Imported goods also become more expensive due to the weakening pound.

Overall shop price inflation - including non-food items - climbed to 8.9% in the year to March, up from 8.4% in February, the BRC added.

However, it said some retailers had been offering discounts on home entertainment goods and electrical appliances. Some retailers were also likely to offer promotions over Easter to encourage customers to spend, it added.

Official figures showed there was a surprise jump in inflation last month, as salad and vegetable shortages helped push up food prices at the fastest rate in 45 years.

Alcohol prices in restaurants and pubs also drove up costs for households, as inflation jumped to 10.4% in the year to February from 10.1% in January.

The jump caused the Bank of England to raise its interest rates - already at their highest level for 14 years - from 4% to 4.25%, in the hope of cooling inflation.

The Office for Budget Responsibility forecasts that inflation will fall below 3% this year as food and energy prices rise less quickly.

However, the Bank of England governor last week urged firms not to put up prices faster than the rate of inflation, warning it could drive up the cost of living even further.

"I would say to people who are setting prices - please understand, if we get inflation embedded, interest rates will have to go up further and higher inflation really benefits nobody," Andrew Bailey told the BBC's Today programme.

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2023-03-27 23:09:56Z
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