Food inflation in the UK has hit 4.2% this month with there being a “significant increase” in the cost of staple foods such as butter and eggs. The British Retail Consortium (BRC) said prices had risen at their fastest pace for 18 months.
Those on low incomes are most affected by food price inflation because they spend disproportionately more of their monthly budgets on the essentials of life compared with the wealthiest, who have more room to cut discretionary spending.
