UK food prices are projected to be 50 per cent higher by November than they were at the start of the cost-of-living crisis in mid-2021, according to new analysis from the Energy and Climate Intelligence Unit. The think tank said the milestone would compress nearly two decades of pre-crisis price growth into just over five years.
The projection draws on a revised forecast from the Food and Drink Federation published on 1 April, which expects food inflation to reach at least 9 per cent by December. The FDF had previously forecast that figure would ease to around 3 per cent this year but reversed course after the closure of the Strait of Hormuz disrupted global oil and gas supply.
