Autumn budget must address pain of high inflation on hard-pressed UK households as food prices rise
“These prices are disgusting” is the common retort from shoppers browsing the supermarket shelves. To say that the cost of everything from a pint of milk to a loaf of bread has changed beyond recognition in only a few years is an understatement. But it could still get worse.
The warning from the Bank of England last week that food prices are stirring the inflation beast that has stalked Britain for the past four years shows that the cost of living crisis is far from over. The headline rate of inflation is expected to hit 4% by September, in a reawakening fed by the soaring cost of things such as butter, chocolate and beef.