Food price inflation is set to skyrocket to six percent by the end of year due to Labour's previous budget and could pose 'significant challenges' to households, retail experts have warned.
The British Retail Consortium (BRC) has predicted food inflation, which currently sits at four percent, will rise by two percent in the next five months.
Over half of retail chiefs, representing over 9,000, told a survey carried out by the industry body that they feel 'pessimistic' about upcoming year, an are expecting more price rises.
And most, 85 per cent, blamed price rises on Rachel Reeves' budget plans, which saw the Chancellor increase employer national insurance and the national living wage in April.
The BRC said of the predicted rise in food costs: 'This will pose significant challenges to household budgets, particularly in the run-up to Christmas.'
