Steak drives food inflation to highest level in a year
Food inflation in the UK has increased for the fourth month in a row largely driven by the increasing costs of fresh produce and beef, according to data from the British Retail Consortium (BRC).The annual rate of food price rises hit 2.8% in May, after April saw a 2.6% rise.Helen Dickinson, chief executive of the BRC, said retailers were passing on the costs of higher minimum wages and increased employer National Insurance contributions.Nick Allen, of the British Meat Processors Association, told the BBC the price of beef has risen to "record levels" due to stable demand and lower supply.
He said competition between supermarkets had previously been keeping the price of beef down, so it was only a matter of time until customers were hit by cost increases.
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