Food price rises in UK shops could continue for another 12 months, according to a new report, with meat, cereals, dairy, fruit and vegetables likely to be getting most expensive. Grocery trade body IGD says products that rely on wheat - everything from bread and cakes to chicken and pork - will see the fastest price rises.
IGD expects food inflation to hit 15% this summer - meaning the annual food bill for an average family of four will be £750 higher.
The cost of what you buy in shops will be going up thanks to the problems with exports from Ukraine and Russia as well as other international hurdles, such as trade bans. IGD says price rises could even last more than a year thanks to new export bans, ongoing Brexit disruption and poor weather - reports The Guardian.
The analysis says Britain will be among the worst hit by the global problems thanks to our reliance on food imports and the impact of Brexit - which has brought higher costs, increased red tape and a shortage of labour.
James Walton, the chief economist at IGD, said: “If average food bills go up 10.9% in a year, a family of four would need to find approximately £516 extra a year. We are already seeing households skipping meals – a clear indictor of food stress."
IGD thinks food bill increases will hit 15% this summer.
