Chocolate price rises hit record as food costs grow

Chocolate prices in the UK rose at the fastest pace on record in May as the overall cost of food continued to climb, official figures suggest.

The main rate of inflation remained at 3.4% in the year to May, the highest for more than a year.

However, food prices grew for the third month in a row, as some economists speculated that businesses were passing on recent increases in employer National Insurance payments to customers.

The rise, along 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 £25bn.

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

Ruth Gregory, deputy chief economist…