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Chocolate and sweets prices jump ahead of Easter

Prices of chocolate, sweets and fizzy drinks have skyrocketed ahead of the Easter holiday as food costs continue to climb at record highs.

The British Retail Consortium (BRC) said higher sugar and manufacturing costs helped push food price inflation down to 15% for the year to March from 14.5% in February.

Fruit and vegetable prices also rose due to availability issues, she added.

But the trade group said it expects food prices to ease soon.

“Food price increases are likely to ease in the coming months, particularly as we enter the UK growing season, but overall inflation is expected to remain high,” said BRC chief executive Helen Dickinson.

“Retailers continue to work hard to keep prices, particularly for essentials, as low as possible by widening price ranges and offering discounts for vulnerable groups.”

Food prices have risen sharply over the past year as rising energy prices have pushed up production costs and extreme weather conditions have impacted harvests.

The BRC said fruit and vegetable prices rose this month after bad weather in Spain and North Africa caused availability problems. Imports have also become more expensive due to the weakening pound.

Headline inflation in store prices – including non-food items – accelerated to 8.9% over the year to March, up from 8.4% last month, the BRC added.

However, some retailers offered discounts on home entertainment products and electronics. Retailers are also likely to offer promotions over Easter to encourage shoppers to buy, she added.

Official figures showed there was a surprise surge in numbers last month as lettuce and vegetable shortages helped push food prices higher than in 45 years.

Alcohol prices in restaurants and pubs also pushed up costs for households as inflation rose to 10.4% in February from 10.1% in January.

The jump prompted the Bank of England to raise interest rates from 4% to 4.25%, already at their highest level in 14 years, in hopes of cooling inflation.

The Office for Budget Responsibility forecasts that inflation will fall below 3% this year as food and energy prices rise at a slower pace.

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