© Reuters. FILE PHOTO: A plate of traditional fish and chips with a gherkin on a table in a seafront fish and chip shop in Brighton, Britain, December 22, 2015. REUTERS/Russell Boyce
LONDON (Reuters) – Food price inflation in Britain could hit 10% this year, the chairman of upmarket retailer Marks & Spencer, said on Tuesday.
“It wouldn’t be surprising to see food price inflation over the course of the year running towards 8-10%,” Archie Norman told BBC radio.
British grocery inflation hit 5.9% in April, its highest level since December 2011, according to market researcher Kantar.
UK food price inflation of 10% this year wouldn’t be a surprise – M&S chairman