Prices of essential food items in the UK could rise by as much as 15 percent over the summer as food inflation is set to hit its highest level in more than 20 years, according to grocery analysts.
In its latest report released on June 16, the Institute of Grocery Distribution (IGD) said that British households are set to pay more for essentials including dairy, bread, and meat.
As the UK economy is facing its strongest period of inflationary pressure since the 1970s, IGD said it expects food inflation to persist for longer than originally expected due to several factors, including the impact of the war in Ukraine, pre-existing supply chain challenges, and the limited effectiveness of monetary and fiscal policy….