Tuesday, November 13, 2007

Fastest rise in food prices for 14 years

By Harry Wallop, Consumer Affairs Correspondent Last Updated: 1:46am GMT 13/11/2007

Food prices are increasing at their highest rate for more than a decade, official figures showed yesterday.
Increased wheat, dairy, meat and vegetable prices mean food factories are having to pay six per cent more for their raw ingredients than a year ago - the highest annual rate since 1993, said the Office of National Statistics (ONS).
After a decade of low prices in supermarkets, vegetables, milk, bread and meat are all expected to show substantial rises
The surging costs will be passed on to consumers, who are experiencing the highest food bills for years and could end up paying almost £1,000 extra on their annual food bill than a year ago.


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