A Lettuce Price Surge and the End of U.K. Food Deflation: ChartBy
The cost of lettuce surged almost 70 percent in the U.K. last month, thanks to “poor growing conditions” in southern Europe. Alongside that, the overall food inflation rate rose to 0.3 percent, ending almost three years of deflation in which shoppers benefited from a supermarket price war. But with the weaker pound still driving up the cost of imports, Citigroup said Tuesday that food prices will “drift significantly higher over the coming months, which should negatively affect consumer confidence.”
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