The figure, released yesterday, comes as food manufacturers continue to pass rising commodity costs onto consumers. This week, The Grocer reported the price of a loaf of bread had increased for the third time in a year to £1.12.
“I've never seen food inflation like it,” Andrew Saunders, an analyst at Panmure Gordon told the Daily Telegraph. “What we're seeing is pretty much all the manufacturing cost increases being off-loaded straight to the retailers, who in turn are passing it immediately on to the consumer. Shoppers are picking up the tab across the board.”