Food inflation up 7% this month

Food inflation was up 7% in this month, compared to 5.6% in the June as heightened cost pressures continued to filter through to customers.

According to new figures by the British Retail Consortium (BRC), the rise was due to an 8% rise in fresh food inflation, up from 6.2% in June.

The figures revealed some of the biggest rises were seen in dairy products, including lard, cooking fats and butter.

However, shop prices also rose to the highest level ever this month, coming in at 4.4%, up from 3.1% the month prior, the highest rate of inflation in 17 years.

READ MORE: Ex-Sainsbury’s CEO warns of double digit food inflation

“Rising production costs – from the price of animal feed and fertiliser to availability of produce, exacerbated by the war in Ukraine – coupled with exorbitant land transport costs, led food prices to rocket to 7%,” BRC CEO Helen Dickinson OBE said.

“As inflation reaches new heights, retailers are doing all they can to absorb as much of these rising costs as possible and to look for efficiencies in their businesses and supply chain. With households enduring a cost-of-living crunch, retailers are expanding their value ranges to offer the widest variety of goods to those most in need, providing discounts to vulnerable groups, and raising staff pay.

“Nevertheless, households and businesses must prepare for a difficult period as inflationary pressures hit home.”

Click here to sign up to Grocery Gazette’s free daily email newsletter



Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.



Sign up to our daily newsletter to get all the latest grocery news and insights direct to your inbox.

  • This field is for validation purposes and should be left unchanged.