Chocolate prices see huge increase in UK amid inflation

UK inflation hit chocolate costs as food prices see constant rise

Chocolate prices see huge increase in UK amid inflation
Chocolate prices see huge increase in UK amid inflation

Chocolate prices in the UK have seen a huge increase as the overall cost of food continued to climb.

Inflation stayed at 3.4% in May, its highest level in over a year.

Moreover, food prices grew for the third month in a row, with some economists suspecting that businesses might be raising prices because of higher National Insurance costs.

The rise, with a higher minimum wage, came into effect in April, after Chancellor Rachel Reeves announced the increases in last October's budget aimed at raising £25 billion.

Food prices have risen for three months in a row and, at 4.4% in May, are the highest since February last year.

Chocolate prices increase amid inflation

Beloved treats like chocolate have also taken a massive hit due to bad harvests in cocoa-producing regions, as bad weather was observed in Ivory Coast and Ghana.

Along with that, chocolate stocks fell to an all-time low earlier this year, making the price surge more.

According to the ONS, until May, chocolate prices rose by 17.7%, the fastest pace since 2016, when the ONS's records began.

Addressing the inflation rate, Chancellor Rachel Reeves shared, "This government is investing in Britain's renewal to make working people better off."

Locals have observed that young families are being forced to check prices and reevaluate little things due to cost.

Zanya Omer, owner of coffee stand Harbour Grind in Whitstable told the BBC that business is "good" but she has noticed consumers' budgets are squeezed.

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