Surging Beef Prices Are UK’s Latest Inflation Headache

Britons are feeling the pinch from double-digit increases in the price of beef, chocolate and coffee, as bad weather and higher production costs risk worsening a recent cost-of-living squeeze.

Consumer prices for beef and veal were almost 25% higher in July than a year ago, the largest annual increase since comparable data began being collected a decade ago, according to official inflation figures published Wednesday. Other household staples like coffee, butter and chocolate also recorded sharp price increases of nearly 20% over the last 12 months.