Food inflation may jump to 7% as energy prices rise, firms tell Bank of England

UK firms have warned they think food inflation could jump as high as 7% this year (Yui Mok/PA) - (PA Wire)

UK firms have warned they think food inflation could jump as high as 7% this year as they increased their inflation outlook for the next year, according to Bank of England data.

It came as Bank officials also found that the conflict in the Middle East has “eroded” confidence that the economy will improve later this year.