Thai noodle, chinese pork and UK inflation rate – three versions of the same story

By: Trademagazin editor Date: 2022. 08. 24. 07:46

As data from July starts to come out, food prices climbed with consumers across countries’ paying record amounts for food even if general inflation numbers and food commodity prices are going down in most nations.

Inflation reaches even long time uneffected FMCG segments of the world

Inflation went down in the US for the first time this year (from an annualized rate of 9.1% to 8.5%); however, food prices went up monthly by 1.1%, reaching a 13.1% year-on-year increase – the largest increase since 1979 –. Cereal and bakery products are rising at twice the general food inflation speed, with flour going up 4% just in July, according to the US department of agriculture (USDA).

UK inflation reached double digits in July – the fastest pace in 40 years – pushed by a 2.3% monthly increase in food prices, a monthly price acceleration rate that was not even seen during the 2008 food crisis, being the hottest monthly rate in 255 months – since May 2001.

Food inflation reached 12.7%, with the government expecting general inflation to peak in October, food prices are not expected to catch a break sooner than that.

Mark Cervera / Food Ingredients First