Cost of living: Food inflation surges to record high
The cost of food has seen yet another monthly rise – with shop prices of groceries over 12% higher than last November.
The scary figure – the highest rate of food inflation since British Retail Consortium (BRC) records began in 2005 – is part of rising prices across the board, with a 7.6% rise in all prices.
Prices have been rising across the board over recent months, putting general inflation at the highest rate in 45 years.
Experts at the BRC say that ‘rocketing’ costs of energy, animal feed and transport are playing a part in driving shop prices up.
The BRC-Nielsen IQ Shop Price Index shows fresh food was hit particularly hard, with prices up by 14.3% on last year, driven by the cost of meat, eggs and dairy.
BRC chief executive Helen Dickinson said: ‘Winter looks increasingly bleak as pressures on prices continue unabated.
‘Winter looks increasingly bleak as pressures on prices continue unabated. Food prices have continued to soar, especially for meat, eggs and dairy, which have been hit by rocketing energy costs, and rising costs of animal feed and transport.
‘Christmas cheer will be dampened this year as households cut back on seasonal spending in order to prioritise the essentials.’
Earlier this month the Office for National Statistics (ONS) also reported food price rises – with a report showing that milk, oil, eggs, pasta and cheese have all become more expensive this year.
The impact of food becoming harder to afford is already being seen.
Just this week The Childhood Trust One warned that one in five children in London has gone hungry in the past month because their family is short of cash.
The findings mean almost half a million youngsters in the capital are at risk of malnutrition as food prices soar, the charity warned.
They also said that up to 40% of youngsters have suffered ‘food insecurity’ – classed by the United Nations as lacking regular and consistent access to enough safe and nutritious food for normal growth and development.
A similar recent report – this time from consumer group Which? – found recently that a third of single parents have resorted to skipping meals to make ends meet because of rising food costs.
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