UK bakery firm British Bakeries has said it is likely to raise the wholesale price of its products by around 15% from early September.

The company, which produces the Hovis and Mother’s Pride brands, said a sharp rise in the cost of flour, due to be announced 1 September, was to blame for the rise in bread prices, reported the Yorkshire Post.

British Bakeries said flour prices were expected to rise by £35 (US$55.4) per tonne across all grades because of poor harvests worldwide.

UK supermarket chain Tesco said it was too early to say whether the wholesale price increase would be passed on to customers.

"If in the event of there being an increase - which we don't know - we will absorb as much of that as we can so whatever impact on our shoppers is kept to a minimum," a Tesco spokesman was quoted by the paper as saying.