Groceries will continue to get more expensive, a forecaster has said, with meat, fruit, vegetables, dairy and bread seeing the biggest increases. Food and drink prices could rise even higher than previously expected as inflation goes on at a pace.
The rate of food price inflation will reach a peak year-on-year of between 17% and 19% in early 2023, the Institute of Grocery Distribution (IGD) said. This is up from its previous forecast of a peak of between 14% and 16%.
The latest predicted rise was described as a “fairly daunting prospect” by James Walton, chief economist at the grocery insight provider. He told MPs on the Environment, Food and Rural Affairs Committee that it is not just the poorest households struggling with rising prices, reports PA.
