Chief govt of the Meals and Drink Federation (FDF) Karen Betts mentioned that while the Authorities’s continued vitality assist is welcome and can assist to include meals value inflation, extra could possibly be executed to assist hold prices down for households.
Betts mentioned that assist together with “urgently simplifying present and potential regulation” could possibly be applied to assist cut back prices.
This comes because the ONS inflation information for December confirmed foods and drinks value inflation persevering with to rise, while headline inflation slowed for a second month in a row in December, right down to 10.5%.
The speed of inflation eased to 10.5%, down from a 41-year excessive of 11.1% recorded in October 2022. In the meantime, foods and drinks inflation rose for the seventh consecutive month to 16.9%.
Betts mentioned that the in rise inflation continues to be pushed by the aftermath of the disruption trigger by Covid-19, the struggle in Ukraine and poor harvests on account of excessive climate situations final yr – together with widespread drought throughout Europe.
She defined: “The elevated prices of substances, vitality, packaging and the motion of products out and in of the UK alongside the relative weak spot of the pound have solely made the state of affairs worse for UK producers.”