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The Guardian - UK

Business

Sarah Butler and Julia Kollewe

UK food inflation may be gone by Easter, claims boss of major retailer

George Weston Inflation United Kingdom Associated British Foods Primark Fraser McKevitt Kantar

A customer shops for groceries at a supermarket. — Grocery price inflation slowed to 9.7% in the four weeks to 29 October. Photograph: Tolga Akmen/EPA

Food inflation could be all but gone by Easter, according to the owner of Kingsmill bread, Twinings tea and Silver Spoon sugar – as long as there are no further shocks to the global system.

George Weston, the chief executive of Associated British Foods (ABF), which also owns the Primark budget clothing chain, said: “Food price inflation hit 20% last year and by the back of 2024 I think it will be close to zero.

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