Wed, 18 Jun 2025

Wed, 18 Jun 2025 Chocolate prices soar as UK inflation stays at highest in over a year

Food prices grew for a third month in May, as the overall rate of inflation remained at 3.4%.

* Chocolate prices in the UK rose by 17.7% in May, the sharpest increase since 2016.
* Food prices increased by 4.4% in May, the highest since February last year.
* Inflation remained at 3.4% in the year to May, above the Bank of England's target rate of 2%.
* The main rate of inflation has been above 2% for more than a year.
* Air fares fell by 5% between April and May this year compared to a 14.9% rise last year.
* Travel prices rose in March due to Easter falling at the end of that month, but fell again in May.
* Food accounts for 23% of basic spending, according to the NI Consumer Council.
* Businesses are passing on recent increases in employer National Insurance payments to customers, economists speculate.
* Chancellor Rachel Reeves said her government is investing in Britain's renewal to make working people better off.
* Shadow chancellor Mel Stride called the latest inflation figures "deeply worrying for families".
* Many smaller businesses will have little capacity to absorb pressure if oil prices increase due to conflict between Israel and Iran.
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