The decades-long era of cheap food in Britain may be coming to an abrupt end. With the U.K. wilting under the fastest inflation in three decades, supermarkets are raising prices at an even quicker rate, according to a new analysis prepared for Bloomberg. That’s turning the screws on shoppers who are already grappling with higher gas and heating bills and falling real incomes. “In terms of prices, the only way is up,” said Honor Strachan, principal food and grocery analyst at GlobalData Plc , a research and consulting firm in London. “It’s something that we will have to get used to.” A mix of cutthroat competition and innovation helped keep UK prices among the cheapest globally for decades, with the average share of household spending on food in […]