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High meat and tea costs drive up food prices

136d ago
Business
BBC Business
Corporate environment
UK food prices have increased by 4% in the year leading up to July, as reported by the British Retail Consortium. The rise is primarily attributed to higher costs for meat and tea, impacting overall grocery bills. This inflation reflects broader economic pressures and supply chain challenges affecting the food industry. Consumers are likely to feel the pinch as essential items become more expensive. Retailers are facing pressure to balance maintaining profit margins with keeping prices competitive for shoppers.
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