The price of household staples including food and drink could climb by as much as 20% in 2025 if challenges with sourcing and transporting goods continue, an industry body has warned.
The cost of electronics, machinery, chemicals and petroleum products could also rise, said the Chartered Institute of Procurement and Supply (CIPS), as a result of geopolitical instability, including tensions in the Middle East, supply chain disruption and cybersecurity issues.
