Because of rapidly rising commodity costs the UK has experienced its quickest rate of food price inflation this year during the month of August, according to the British Real Consortium. In particular, wheat and sugar are two key ingredients behind steeply increasing expenses for food makers.
According to Bloomberg:
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Don’t Turn Out the Lights on Commodities Just Yet
The prices for many commodities suffered the worst week in recent memory last week. Oil prices dipped below $100 per barrel, gold fell below $1,500 an ounce and silver gave back much of the past month’s gains by falling to the $35 an ounce level. The prices for other commodities such as sugar, tin, nickel, aluminum, lead and copper also pulled back.
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