Food inflation in the UK has been on a steady rise, and the situation is only getting worse. According to the Office for National Statistics, food inflation reached a staggering 18.2% in February. This dramatic increase is primarily attributed to poor crops resulting from bad weather in southern Europe and Africa, leading to the rationing of fruits and vegetables in UK supermarkets.
The UK-based Grocery Gazette revealed some alarming statistics about the rising cost of essential food items. Bread prices have risen by 20.8%, pasta products and couscous by 25.3%, eggs by 32.5%, margarine and fats by 30.4%, and pork by 22.4%.
Kevin Bright, a McKinsey partner, expressed his concerns to Grocery Gazette, saying, "The curve is yet to break for inflation. Today's inflation figures will be disappointing news for households across the country. Food and non-alcoholic beverage prices are running at record levels. This is eating into a significant proportion of disposable income."
