HomeBusiness/EconomyInflation Shows No Signs Of Stopping As The Cost Of Shopping Increases...

Inflation Shows No Signs Of Stopping As The Cost Of Shopping Increases And Fresh Food Prices Increase By 15% To A New High

The price of fresh food increased by 15% last month when compared to the same month previous year, reaching its highest level since the British Retail Consortium started reporting the statistics in 2005.
The statistics follow Office for National Statistics studies showing consumers are cutting back on their food spending and finding it difficult to afford a balanced diet, which come amid store warnings that inflation shows “no imminent sign of decreasing.”

The ONS reported significant price rises for meat, fish, dairy, fresh fruit, and vegetables during the year ending in November.

According to the BRC, food price inflation increased from 12.4% in November to 13.3% in December across all products, including packet goods and cans.
According to their research, which was carried out in collaboration with retail researchers NielsenIQ, overall shop price inflation was 7.3% in December, a slight decrease from 7.4% in November.

The BRC’s chief executive, Helen Dickinson, stated: “It was a hard Christmas for many households around the UK.” The cold snap not only increased people’s energy costs, but many basic items also saw price increases as the effects of the war in Ukraine continued to drive up the price of electricity, animal feed, and fertilizer.

2023 will be a challenging year for consumers and businesses, she predicted, as inflation doesn’t appear to be slowing down anytime soon.

The government’s guarantee against energy price increases for businesses is set to disappear on April 1, which will increase pressure on shops and shelf pricing.
What is? Sue Davies, head of food policy, stated: “During the cost of living crisis, it is extremely essential that households get the support they need from the Government and companies. Supermarkets must make sure that their stores have access to budget lines for wholesome and reasonably priced necessities. Promotions should be directed toward those who are most in need and those who are being helped so they can easily compare product prices and choose the best deal.

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