Food and drink inflation at 3.3% in February 2026

Karen Betts, Chief Executive, The Food and Drink Federation (FDF) said:

“While food inflation fell slightly in February 2026, I am concerned that this is the calm before the storm. The longer the conflict in the Middle East goes on, the bigger its impact will be on food prices. With food and drink price inflation already running above historical averages, heightened energy, maritime fuel and fertiliser costs will put further pressure on prices.

“Food and drink is an essential, bought by every household, every week. While it can take several months for cost rises to filter fully through to shop shelves, the cost of the Iran conflict will be felt by shoppers this year. If government is serious about tackling the rising cost of living, it must provide our industry with at least the same support as other manufacturing sectors. The current energy shock is yet another structural shock our industry will have to absorb, on top of the Ukraine war, the costs of realigning food law with the EU once again, and new regulatory burdens." 

Background

• Food and non-alcoholic drink prices rose by 3.3% in the 12 months to February 2026, down from 3.6% in the 12 months to January. On a monthly basis, food and non-alcoholic drink prices were unchanged in February 2026.
• Prices fell for nine categories, with the largest drops for: olive oil (-10.4%), flours (-8.3%) and pizza (-4.9%).
• Prices rose the fastest for beef and veal (20.6%), offal (17.0%) and whole milk (13.1%).
• Our members have reported that UK haulage companies have implemented an increase on Emergency Fuel Surcharge of up to 20%. And the ocean freight lines have also implemented an Emergency Bunker Surcharge of around $400/container to cover the oil costs