Tag: inflation rises

UK Food Prices Set To Rise Again This Summer

Food prices are predicted to increase by 15% in the UK this summer. This is the highest level in more than 20 years. This is predicted to rise alongside inflation which could last until the middle of next year, according to a report by The Institute of Grocery Distribution (IGD)

This is a result of the ever increasing prices of meat, cereal, dairy, fruit and vegetable products caused by the rise in costs of wheat prices as a result of the war in Ukraine.

The Ukraine is a big supplier of wheat to the UK, combined with sanctions imposed upon Russia will undoubtably cause a hike in prices and also a probable wheat shortage. Also predicted by the grocery trade body IGD.com is a rise in costs of food items caused by production lockdowns in China and export bans on food products such as palm oil from Indonesia and wheat from India.

What does this mean?

Food costs are going to rise dramatically again making it extremely difficult for low income households to be able to afford to buy much needed food essentials. According to a survey undertaken by the Office for National Statistics (ONS) there has been an increase in the number of people spending less on food and household essentials which has risen from 36% to 41%.

This figure is set to rise again in the Autumn when as predicted by The Bank of England inflation is predicted to reach to 11%, which is the highest since the 1970s.

Rising energy costs

Households are still struggling to cope with the rise in energy costs with government payments set to be sent out to household in July. This scheme is not without its faults though leaving some low income households and disabled people exempt from this scheme.

After the second payments given by the government in October there are so far no plans to extend this to the winter and beyond, leaving many forced to live in cold homes unable to cook food.

A recent survey also carried out by the Office for National Statistics (ONS) has revealed that 52% of low income households are being forced to use less gas and electricity because they can no longer afford the cost. This in turn will also affect a households ability to cook meals.

Why does this matter?

Low income households are already burdened with an ever increasing cost of living that they can no longer afford to keep up with. Already overwhelmed with these costs and the lack of affordable food this will undoubtably cause mental distress and illness as a result of not being able to provide the basics for themselves and their families.

The lack of financial support from the government in helping the public with these costs is sadly lacking. In work and out of work benefits such as universal credit, working tax credits, ESA and PIP have failed to rise with inflation leaving households with a huge financial deficit.

The poorest can no longer be expected to bear the brunt of these ever increasing costs. Permanent financial help from the government needs to be offered before winter, if not thousands will undoubtedly become ill or worse as a result of living in cold homes unable to provide food for themselves and their families.

Photo by Ahsanjaya on Pexels.com

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