Food and drink prices rise again despite fall in general inflation
18 January 2023
Price rises in the UK have fallen for a second month in a row but the cost of food and non-alcoholic drinks including milk, cheese and eggs has kept inflation at a 40-year high.
Despite many households splashing out for Christmas, food prices rose 16.9% in the year to December according to latest figures from the Office for National Statistics.
Basics such as milk, cheese and egg saw the largest increases. Prices for sugar, jam, honey and chocolate as well as soft drinks and juices also jumped. However, price growth slowed for bread and cereals.
Karen Betts, chief executive of The Chief Executive of the Food and Drink Federation, said:
“Food and drink prices have risen for the seventeenth consecutive month, to 16.9%. These rises continue to be driven by the aftermath of the disruption of COVID-19, the war in Ukraine and poor harvests caused by extreme weather last year – including widespread drought across Europe. The increased costs of ingredients, energy, packaging and the movement of goods in and out of the UK alongside the relative weakness of the pound have only made the situation worse for UK manufacturers.
“The government’s continued energy support is welcome and will help to contain food and drink price inflation. But there’s certainly more the UK government could be doing to help keep costs down for households – including by urgently simplifying current and prospective regulation.”