There are several factors to blame for rising food prices, including a widespread vegetable and egg shortage as well as high energy costs and bad weather leading to rationing 🛒 So when will consumers finally see prices coming down?
Minette Batters, the President of National Farmers Union, said farmers have long been asking the Government to help and to make farming a critical industry which means it is considered essential by for the functioning of a society and economy and deserving of special protection for national security.
“This is a different model to Europe which works on a more supply and demand basis. There are weekly and monthly cost changes to take into account what is happening in the industry. “Food remained one of the strongest contributors to overall inflation as the high price of animal feed and fertiliser has driven up the price of many staples, while the weaker pound made importing products such as vegetables from Europe more expensive.”
“Unfortunately, however, easing food inflation does not mean easing prices. It simply means the pace at which these prices are rising should begin to slow. High food prices look set to remain. The cost of living ‘crisis’ that we witnessed in 2022 may be passing. But there remains a cost of living ‘challenge’. The need for careful budgeting is greater than ever.”
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