The price shoppers pay for food in UK stores could go up by 10% this year, according to the boss of Marks and Spencer. Archie Norman, told BBC Radio 4’s Today programme: “It wouldn't be surprising to see food price inflation over the course of the year running towards 8% to 10%.
“But we don't know that yet because it runs through the year, some has gone through now but quite a lot's still to come.”
It comes after figures today showed that in real terms the average wage in the UK has gone down 2.9% - thanks to take-home pay failing to keep up with inflation. According to the Mirror that works out at £800 a year.
