Driven by rising food prices; according to a survey released by the British Retail Federation on Tuesday, UK food prices recorded the biggest increase since March 2024 in June, driving overall store prices to rise for the first time in nearly a year. BRC also warned that price pressure may rise again. According to BRC, food prices rose 3.7% from June last year, which is faster than the 2.8% increase in May. According to BRC, the prices of fresh produce such as meat are affected by high wholesale prices and rising labor costs for employers. UK Chancellor of the Exchequer Reeves increased employers' social security payments in April. Overall store prices rose in June for the first time since July last year, up 0.4% year on year, and fell 0.1% in May. The Bank of England kept interest rates at 4.25% in June, and investors expect to cut interest rates by 25 basis points twice before the end of 2025.

Driven by rising food prices; according to a survey released by the British Retail Federation on Tuesday, UK food prices recorded the biggest increase since March 2024 in June, driving overall store prices to rise for the first time in nearly a year. BRC also warned that price pressure may rise again. According to BRC, food prices rose 3.7% from June last year, which is faster than the 2.8% increase in May. According to BRC, the prices of fresh produce such as meat are affected by high wholesale prices and rising labor costs for employers. UK Chancellor of the Exchequer Reeves increased employers' social security payments in April. Overall store prices rose in June for the first time since July last year, up 0.4% year on year, and fell 0.1% in May. The Bank of England kept interest rates at 4.25% in June, and investors expect to cut interest rates by 25 basis points twice before the end of 2025.