Food Prices Expected to Continue to Rise – Industry Experts Warn
As the UK battles with the cost-of-living crisis, industry experts expect food prices to continue to rise, hitting its peak in 2023.

Food prices are expected to rise into next year
According to research by the Institute of Grocery Distribution (IGD), food inflation in the UK is likely to peak at 15% this summer and remain at high levels into next year.
The UK has seen its highest fresh food inflation rate in 13 years, currently standing at 5.6% in June, as revealed in the BRC-NielsenIQ Shop Price Index data. As a result, over half (56%) of 4,011 UK adults have reduced the amount of food they’ve bought, while 42% have shopped at a different place to usual to decrease their shopping bills, according to a survey by the BBC.
Following the Covid-19 pandemic and Russia’s invasion of Ukraine, costs have risen for many food and drink manufacturers due to continued shortages of supply and labour. The Ukraine, who is the sixth-largest exporter of wheat globally, only had the potential to produce around 21 million tonnes of wheat this year, 23% less than the previous five years.
The Food and Drink Federation, a membership organisation that represents and advises UK food and drink manufacturers’ boss, Karen Betts told the BBC: “The manufacturers that I speak to are saying that at the moment all their input costs are rising, so that’s everything from ingredients to raw materials, energy, labour and they can’t see an end to that.”
Related news
OKSZ: Margin stop sweeps inflation under the transparent carpet
According to three-quarters of the population, food prices are rising…
Read more >Chicken is getting more expensive, eggs are getting more expensive – this is what awaits Hungarian consumers now
A significant price increase has taken place on the domestic…
Read more >Prices are soaring on the poultry market: chicken, turkey and eggs have also become more expensive
In recent months, a significant price increase has taken place…
Read more >Related news
Dole offloads fresh-veg arm to Arable Capital
Dublin-headquartered Dole has sold its fresh vegetables division in the…
Read more >Wolt Announces New Partnerships To Drive ESG Initiatives
Finnish food delivery firm Wolt has announced two new strategic…
Read more >Colruyt to install smart cameras at all checkouts
Belgian supermarket chain Colruyt is rolling out its “easy check-out”…
Read more >