Food prices could go up by 15% over the summer, adding to the stress on families facing rising petrol and energy bills. The Institute of Grocery Distribution (IGD) said in a report that households are set to pay more for essentials including dairy, bread and meat.
The research predicted a family of four may have to increase their spend on food and groceries from £396 per month to £439 per month. Last month, the Office for National Statistics (ONS) recorded that inflation hit a 40-year-high at 9%, as food price rises gathered pace.
IGD warned that some families may have to skip meals as inflation continues to rise. The report also mentioned that the UK economy is facing its “strongest period” of inflationary pressure since the 1970s, with the conflict in Ukraine worsening the impact by restricting supply chains and pushing up grain prices.
