Tag Archives: Bank Analysis

Hikes in National Insurance contributions (NICs) and the minimum wage were contributing to shoppers paying more for their food, the Bank said – and warned the situation will likely get worse. Food inflation hit 4.5 per cent in June, higher than economists had predicted in May, and is predicted to rise to 5.5 per cent next month.Continue reading “Rachel Reeves’ NI Tax Raid Could Increase Food Prices As Autumn Approaches”