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UK’s record food inflation set to continue into 2023

Thu 19/01/2023 by Richard Wilinson

Annual food inflation in the UK jumped to 13.3% in December, up from 12.4% in November, according to the latest data from the British Retail Consortium (BRC) trade body and Nielsen. The Guardian reports the BRC as saying this was the highest monthly rate since it began collecting data in 2005. And there is no end to the misery for UK shoppers as retail industry bosses warned the high inflation would continue into 2023 due to the soaring energy prices.

Prices of many essential foods rose sharply in December. The BRC said that high prices for animal feed, fertiliser and energy fed into higher food prices on supermarket shelves, while warning that consumers would probably face further increases in 2023.

“It was a challenging Christmas for many households across the UK,” said the BRC’s chief executive, Helen Dickinson. “2023 will be another difficult year for consumers and businesses as inflation shows no immediate signs of waning.”

 

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