Connect with us

Hi, what are you looking for?


Food inflation hits another record high as pressure mounts on home finances

Food prices increased by a record annual rate of 15.7% last month as pressure continues to mount on household finances.

Fresh food prices saw a record jump of 17.8% year-on-year for April, while the price of ambient products, such as tinned goods and other store-cupboard items, went up 12.9%.

The latest figures come as the average price of food and non-alcoholic drinks in the UK has been seeing its sharpest increase in more than 45 years.

According to the latest BRC-NielsenIQ shop price index, shop prices went up 8.8% last month compared to the same period in the previous year.

This figure was slightly down from 8.9% in March and followed spring discounting at fashion and furniture stores.


It came as non-food stores recorded inflation of 5.5% for the month, slipping from 5.9% in March as shops reduced prices in a bid to attract customers.

Helen Dickinson, chief executive of the British Retail Consortium, said: “Overall shop price inflation eased slightly in April due to heavy spring discounting in clothing, footwear and furniture.

“However, food prices remained elevated given ongoing cost pressures throughout the supply chain.

“The knock-on effect from increased production and packaging costs meant that ready meals became more expensive and coffee prices were also up due to the high cost of coffee beans, as well as key producer nations exporting less.

Read more on Sky News:
Why are food prices rising so much?
Spending calculator: What prices have gone up?

“Meanwhile, the price of butter and vegetable oils started to come down as retailers passed on cost savings from further up the supply chain.”

Mike Watkins, head of retailer and business insight at NielsenIQ, said: “In recent weeks, more retailers have used loyalty schemes or money off promotions to help stimulate sales.

“However, with inflation yet to peak and sales volumes in decline in many channels, it’s difficult to second guess the strength of consumer confidence.”

The Trussell Trust charity recently reported a record near-three million emergency food parcels were handed out at food banks in the year to March as more households continued to struggle with bills and food costs.

The number of food parcels provided for children topped one million for the first time.

Read more:
Food inflation hits another record high as pressure mounts on home finances

    You May Also Like


    The head of the International Monetary Fund has warned of increased risks to the stability of the financial system after weeks of banking sector...


    1.22 billion people use Instagram every month. That’s a huge number of Instagrammers trying to hit it big on the platform all at the...


    Since the rise of online casinos, cybersecurity has become a major concern for both casino operators and players alike. The transactions that go around...


    The Home Office has made next to no progress in tackling criminal fraud during the past five years, despite it having become Britain’s most...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023 | All Rights Reserved