food inflation has hit its highest rate on record, according to the british retail consortium.y been driven by the war in ukraine — which continues to push up the price of animal feed, fertiliser and vegetable oil. figures show shoppers are now paying 10.6% more than they were a year ago — that's up from 9.3% in august. fresh food products are a record 12.1% higher than last year — this was up from 10.5% in august. overall shop price inflation rose to 5.7% in september. and non—food inflation rose to 3.3% — largely driven by heavier hardware and other products hit by rising transport costs. earlier, tom holder from the british retail consortium explained the significance of these increases. we are not seeing food inflation or inflation on the whole slowdown at all and that will be a real concern for households, particularly as next month we will be seeing the rise in energy prices for many households. things are difficult for households and retailers to face both higher costs and getting squeezed by lower demand, a difficult time with no sign that things will debate. sign that

absolutely, and we're already seeing this week at the latest death index from the british retail consortium. it snapshot shows that walsh, many shop has it been doing. it's not actually buying essentially like school uniforms. so much that they had done in previous years. instead they're ring fencing budget and they're spending on things like neat where to keep them warm during the winter and also energy devices such as air rise, which are likely to use less energy at during the winter months. had to be turning off their cookers and using these instead of calls that they can afford to make these purchases. so we're already saying this change in behavior. now interestingly, today we tell stokes have risen at the likes of next, which is the major clothing platform and sportswear at company j. d. sports. there is an expectation that energy bills will be frozen and that could give consumers a bit more wiggle room when it comes to being able to afford more discretion reactions. however, remember that bills are likely only to be frozen at the current rate, which as that you reported, pointed out

absolutely, and we're already seen this week at the latest her index from the british retail consortium. it snapshot shows that was many shoppers had been doing is not actually buying essentially like school uniforms, so much that they had done in previous years. instead, there ring fencing budget and they're spending on things like neat where to keep them warm during the winter and also energy devices such as air rise, which are likely to use less energy during the winter months to be turning off their cookers and using these instead of calls that they can afford to make these purchases. so we're already saying this change in behavior. give consumers a bit more wiggle room when it comes to being able to afford more discretionary items. however, remember that bills are likely only to be frozen at the current rate, which as they're your porter pointed out to the red, $4000.00 euro. so already bill's going to be sky high. so it is very difficult spending decisions will still have to be made course, it's not just the u. k. facing down a rapidly rising cost of living brought on by the leap

i�*m joined by tom holder from the british retail consortium.fresh fruit, berries and such, but the drought will also have an impact, a longer impact on the harvests for other products, so swings and roundabouts there, a difficult time for retailers and an even harder time for consumers at the moment. it even harder time for consumers at the moment-— the moment. it is all along the su -l the moment. it is all along the supply chain — the moment. it is all along the supply chain with _ the moment. it is all along the supply chain with the - the moment. it is all along the| supply chain with the producers the moment. it is all along the i supply chain with the producers in the first place, they are finding the first place, they are finding the squeeze because the basic resources they need are also going up resources they need are also going up in price, it starts at the very beginning. up in price, it starts at the very beginning-— up in price, it starts at the very beaainnin. ~ , beginning. absolutely. the imported food is more — beginning. absol

in the u.k., the british retail consortium says shot price inflation accelerated to 5.7% in septembergroup says retailers are battling the weak pound, rising energy bills, commodity prices, and a tight labor market. senior house democrats have police their bill to restrict stock trading and ownership by members of congress. the president and vice president, supreme court justices, and other high-ranking officials would be covered in the measure. the legislation would require them to divest current holdings or put them in a blind trust. biogen says that their medicine slows the effects of all dimers/ apple is backing up plans to increase production of its new iphone this year. the company had expected a surge in demand but that has not happened. apple him to produce 90 million handsets in the second half of the year, roughly the same level as last year. global news 24 hours a day, on-air, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm lisa mateo. this is bloomberg. >> watching the pound today will be crucial. potentially w

food inflation has hit its highest rate on record according to the british retail consortium.le oil. figures show shoppers are now paying 10.6% more than they were a year ago — that�*s up from 9.3% in august. fresh food products are a record 12.i% higher than last year — this was up from 10.5% in august. overall shop price inflation rose to 5.7% in september. and non—food inflation rose to 3.3% — largely driven by heavier hardware and other products hit by rising transport costs. our business correspondent marc ashdown is still with us. not good news on the cost of living front, no great surprises that the trajectory is upwards, just put in context for us these rises, both shop inflation and food inflation specifically. the shop inflation and food inflation specifically-— shop inflation and food inflation secificall . , ., ., , specifically. the big aim of these olicies specifically. the big aim of these policies from _ specifically. the big aim of these policies from the _ specifically. the big aim of these policies from the government - specifically. the big aim of these pol