The British Retail Consortium (BRC) has warned that food inflation could remain above 5% well into 2026 if the retail sector faces more tax hikes in the upcoming autumn budget. Conducted by Opinium, the survey found that people’s biggest concern was ‘prices rising faster than wages’, with 57% of respondents agreeing (61% among working people). This was even higher for food inflation, which rose to 5.1%, the highest level since the cost of living crisis in 2022/23. The BRC warned today that food inflation is likely to rise further and remain above 5% well into 2026 if the retail industry is hit by further tax rises at the Autumn Budget. However, the biggest risk to food prices would be to include large shops – including supermarkets – in the new surtax on large properties.