Food prices soar as food inflation increases

22 April 2008 by
Food prices soar as food inflation increases

Food inflation increases have seen prices soar across the UK in the last year, official figures have revealed.

The price of milk, cheese, and eggs were the worst affected, up by 8.1% in the last 12 months, compared with just 1.1% during the 12 months before that, according to the Agriculture and Horticulture Development Board (AHDB).

Bread and cereal-based foods were also hit hard by the global shortage of grain, with an increase of 4.7% in the last 12 months, a 2.8% rise on the 12 months before that, the report revealed.

Meat and fish prices saw the lowest rise in price, but still saw an increase of 1.8% since February last year, 0.6% less than the previous 12 months.

The report examined changes to the 12-month rolling average rate of inflation for selected food groups in the 27 EU member states. Food inflation across Europe rose by an average of 4%.

Tracy Richardson, market analyst at the AHDB, said that reduced grain yields "could not be discounted" as having an influence on the rate of inflation.

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By Gemma Sharkey

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