Food and drink inflation continues to increase

Food and drink inflation continues to increase

Data from the Office for National Statistics (ONS) has found that food and drink price inflation has risen again to 16.5%.

Chief executive of the FDF Karen Betts.

However, headline inflation slowed in November, down to 10.7%. The ONS said the slight slowing in the rate of headline inflation in December was largely due to lower fuel prices.

Chief executive of the Food and Drink Federation (FDF), Karen Betts, said that the British food and drink industry is continuing to feel the impacts of high inflation on production, and that manufacturers are having to pass costs through to consumers, despite their best efforts to find efficient savings.

“The withdrawal of support will undoubtedly put further pressure on food and drink prices.”

Karen Betts, FDF chief executive.

She explained: “Energy still accounts for a significant portion of companies’ costs and we are seeking urgent clarity from Government on what energy support will be available to the food and drink supply chain in the Spring. The withdrawal of support will undoubtedly put further pressure on food and drink prices. There also remain low cost and high impact measures government could take to reduce unnecessary regulatory burdens on businesses in our sector, which would help curb inflation too.”

Last month (November) food and drink inflation rose to 16.4%, a rate not seen for 45 years. The cost of basics such as milk, cheese and eggs lead the charge.

Previous / Next posts...

Submit a Comment

Your email address will not be published. Required fields are marked *