Food prices have been soaring over the past year and now pose one of the biggest threats to inflation in the UK, according to the Bank of England.
Annual food inflation reached six per cent in April - its highest level for almost six years - and the Bank said the impact of recent flooding on crops could push prices even higher.
Yesterday's quarterly inflation report from the Bank said the impact of the floods on the cost of food was "highly uncertain", with the full effects possibly not becoming apparent for a month or two.
The implications of the extreme weather for prices will largely depend on whether retailers pass on the extra wholesale costs to consumers in full.
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