Shop prices jump at fastest pace in a year [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
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Source: Yahoo! Finance
Shop prices rose at their fastest pace in a year last month as the cost of breakfast staples including butter, cheese , eggs and bread jumped in supermarkets. While shop prices were lower compared with a year ago, they increased by 0.4pc between January and February – the sharpest monthly rise in 12 months, according to the British Retail Consortium (BRC). Food prices also rose by 0.4pc last month compared with January and jumped 2.1pc year-on-year. Households were warned to brace for further pain as the BRC said food price rises are expected to hit 4pc later this year, almost double the current rate of growth. Helen Dickinson, chief executive of the BRC, added that soaring global coffee prices could threaten further cost increases. She added: “ Inflation will likely rise across the board as the year progresses with geopolitical tensions running high and the imminent £7bn increase in costs from the autumn Budget and the new poorly designed packaging levy arriving on the doo
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