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The New Daily
The New Daily
Business
Matthew Elmas

Food prices to soar another 5.5 per cent over next year: Deloitte

Deloitte Steven Cain David Rumbens Inflation Australia Coles Deloitte Access Economics
Food prices have already shot up over the past year but it’s about to get even worse, according to forecasts.

Higher food prices will become the norm at major supermarkets as the legacy of COVID-19 and more frequent natural disasters put grocery supply chains under pressure.

Food prices will rise another 5.5 per cent by June 2023, despite already rising 5.4 per cent over the year to June 2022, forecast a Deloitte Access Economics report published on Tuesday.

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