This week in the UK, The Office for National Statistics (ONS) reported that food inflation reached a record high since 1977. During the month of February, it rose to 18.2%, the reason for the sharp upwards trend is blamed on fluctuation in the market with one example being the increase in the price of vegetables last month.
In UK supermarkets, there was a lack of fruit and vegetables caused by unpredictable weather in the South of Europe and Northern Africa and a lot of producers had to turn down the heating in their greenhouses. As a result fruit and vegetables in UK supermarkets were rationed for the consumers.
Since then the situation has improved but the annual rate of 18% for vegetables in the year to February 2023 is the highest rate since February 2009.
Since 2008 bread and cereals, chocolate and confectionery, ready-meals and sauces, as well as hot beverages were each also at the highest rate.
The outlook is bleak for households across the UK as consumers continue to struggle to manage their ever-increasing grocery bills. Food and non-alcoholic beverages prices are running at record levels.
Shoppers are already switching supermarkets to find cheaper alternatives and it's likely it will mean more of them will be further forced to make difficult decisions about what they can put in their shopping trollies.
Are you a buyer with a requirement to keep costs low, to deal with ever-rising supermarket inflation? Atlante connects great suppliers with great retailers whilst trying to keep costs down and still providing excellent quality.
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