UK Food Prices Rise the Most in a Year

British food prices rose at the fastest rate in a year in August thanks to higher prices for commodities.

Food prices increased at an annual rate of 3.8% in August, compared with 2.5% in the previous month, Bloomberg News reported, citing a statement by the British Retail Consortium. That's the fastest increase since July 2009.

Higher commodity prices are driving the rise in prices, according to the BRC. Wheat prices have jumped 53% in the last three months.

Shop-price inflation rose to 1.7% from 1.5% in the previous month.