Food and drink inflation continues to rise
14 December 2022
The ONS inflation data for November shows food and drink price inflation continuing to rise to 16.5%, whilst headline inflation slowed in November, down to 10.7%
- Economic insights
The Food and Drink Federation Chief Executive Karen Betts said: “The price of food and drink is continuing to rise, with food and drink price inflation hitting 16.5% today. Manufacturers continue to see persistent rises in their key costs – from ingredients to logistics, packaging and labour costs. Despite their best efforts to find efficiency savings, some price rises are having to be passed through to consumers.
“Energy still accounts for a significant portion of companies’ costs and we are seeking urgent clarity from government on what energy support will be available to the food and drink supply chain in the Spring. The withdrawal of support will undoubtedly put further pressure on food and drink prices. There also remain low cost and high impact measures government could take to reduce unnecessary regulatory burdens on businesses in our sector, which would help curb inflation too”