Shop price inflation rose to its highest annual rate since January last month – pushing food price inflation to a 16-month high, the British Retail Consortium has revealed. The BRC said shop price inflation rose to 2.1% in October from 1.9% in September, as past rises in commodity prices filtered through despite competitive pressures. Stephen Robertson, BRC director general, said: "Wheat is up 47% compared with a year ago, affecting the price of staples such as bread - and some meat products, as feed costs work their way up the supply chain.”