Britain’s grocery shoppers face sharp price increases over the next few months.

Industry expert David Sables predicts retailers will push up costs by five per cent in the next few weeks.

He expects a further rise in the New Year.

Mr Sables, chief executive of Sentinel Management, said:

“Prices on the shelf will go up five per cent in store, but it won’t be enough.

“The retailers will communicate an additional four to five per cent price increase which will go through in January.

“Suppliers we speak to are petrified about what will happen next.”