"Relentless" increases in the price of food may not hit their peak until next year, an industry group has warned.
"I think the peak could well be into next year and that prices could well rise some way above 10%," Ms Betts told the BBC.Other groups, such as the Institute of Grocery Distribution, which provides analysis to major grocers, predict that prices could rise by as much as 15% as household staples such as bread, meat, dairy, fruit and vegetables become more expensive.
"The manufacturers that I speak to are saying that at the moment all their input costs are rising, so that's everything from ingredients to raw materials, energy, labour and they can't see an end to that," she said. Meanwhile sanctions against Russia - a major oil and gas producer - have further pushed up global energy prices, hitting businesses and consumers alike.Ms Betts said there was "usually a seven-to-12 month time lag in the prices that food manufacturers pay before those price rises are felt on shop shelves".
One of the biggest concerns is that household energy bills are likely rise further in October, when the energy regulator Ofgem is expected to lift the cap on gas and electricity prices.
Western civilization is at the brink of extinction unless they start a spiritual revolution. The church has to revive to guide the society spiritually. Without spiritual strength every society crumbles. Religious centers drive community sense and social cohesion.
The sad thing is we will never see a decrease in fuel, food etc. It's going to be a constant struggle unless something is done. But what? An increase in wages?
Good!!!
A big problem is that all the things that justify a price rise everyone else jumps on the bandwagon and increases prices, I get there is stuff like power, delivery etc but when a supermarket hikes the prices of every product in the store, they would reclaim costs if only a few
Britain’s food was very cheap you don’t realize until you catch up with the rest of the world like North Americas are finding out about petroleum prices ✌️🌏❤️
I literally cannot afford this. I’m a professional and simply cannot afford this. I’m a single working mother of 2, I’m entitled to no benefits and cannot keep up with this.
Well if it happens we'll find out wihout all your doom mongering 🙄
Yippy something to look forward to.
Pubs are still packed every weekend
Zzzzzzzzz slow news day? DefundTheBBC
And everybody's on strike.
Cost of living crisis for so many people.
No really, there was us thinking it was all gonna get cheap.
BrexitReality More to come !
Time 'the industry ' took some steps to hold or reduce prices to do their part to help customers. Already if prices go up week on week I just stop buying that product - so everyone looses.
Meanwhile our government does …..absolutely nothing.🙄