Mr Kipling cakes firm Premier Foods has said it is hiking prices in the face of soaring costs in the latest sign of mounting pressure on household food bills.
The group – which also owns brands such as Oxo cubes, Sharwoods and Ambrosia – said the Ukraine war was pushing up prices of many of its ingredients, including wheat and dairy, while fuel and energy costs are also rocketing.
The warning comes as official figures on Wednesday showed inflation hit a 40-year high of 9% in April – and it is expected to soar past 10% later in the year.
