Food prices set to rise by 50% on start of cost-of-living crisis by November
UK food prices are projected to rise by 50% by November compared to mid-2021 levels, driven by climate change, global supply disruptions, and volatile oil and gas markets. The Energy and Climate Intelligence Unit think tank warns that this will push household food bills up, with the poorest households being hardest hit.
UK food prices are set to rise by 50% by November compared to mid-2021 levels. The Energy and Climate Intelligence Unit (ECIU) attributes this to climate change, global supply disruptions, and volatile oil and gas markets. Staples like pasta, frozen vegetables, and olive oil have already seen significant price increases. The ECIU warns that household food bills have risen by £605 on average over 2022 and 2023, with energy shocks accounting for £244 of this. Climate-impacted foods like butter, milk, and beef are driving continued pressure on food inflation. The think tank cautions that unless net zero emissions are achieved, food prices will continue to spiral.
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