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Retail prices of food, according to a UK bank, have increased almost twice as much as they should have done as a result of recent food commodity price increases. Prices to consumers have increased far more than indicated by the small proportion of raw material cost in the total cost of processing and delivering. An analysis by UBS indicates price of food in UK shops increased by 6 per cent when in fact production costs increased by only 3.5 per cent, including the price of commodities, labour and currency exchange rate changes.

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EurActiv Network