Food prices up in July

Food prices rose by 0.96 per cent during the month of July, according to figures from the British Retail Consortium (BRC).

The increase in prices is a result of the promotional activities held in the supermarkets to mark both the Queen's Golden Jubilee as well as the World Cup. Compared to July 2001, prices were up by 2.06 per cent.

Bill Moyes, director general of the BRC, said: 'There are a lot of pressures driving the cost base for retailers at the moment – not least the pressure placed on the sector by the weakening of the pound. The fact that high street inflation continues to remain way below the RPIX is testament to the industry's increasing efficiency. The bottom line for consumers is that because of that efficiency, many pieces are still cheaper than they were more than four years ago.'