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Food prices in Britain are at their highest level in 13 years


London, SANA- The British Sky News network revealed that food prices in Britain are witnessing the highest prices


The British Sky News network revealed that food prices in Britain are at their highest level in 13 years, with a quarter of British consumers struggling to meet their needs.

And Sky News quoted data from the consulting company Kantar World Panel in a research conducted by it that the measure of inflation in British stores rose to 7 percent, compared to 5.9 percent a month ago.

This rise is a reflection of the rising costs of energy, fertilizer, fuel and animal feed that are transported through supply chains in the wake of the current situation in Ukraine.

And prices had risen before the current situation in Ukraine, where the shortage of workers was combined with the high demand to impose shipping costs, which hindered the recovery from the economic situation that resulted from the spread of the Corona virus.

The research, which covered the food commodities market over the past 12 weeks until the 15th of this May, showed that market sales fell to 4.4 percent compared to the same period last year.

In turn, Fraser McKevitt, head of retail and consumer division at Kantar World Panel, said: "The British are facing more pressure as they must expand their budgets to accommodate the rise. This makes it the second most important issue after the escalating cost of energy bills.

And a manager of one of the largest British stores warned that production costs are heading to an unprecedented level, which will increase pressure on prices in the foreseeable future.

Britain's National Statistics Office (ONS) reported that the rise in fuel and energy prices was reflected in everyday items, with the headline CPI measure of inflation hitting a 40-year high of 9 percent last month.

The British government is under mounting pressure to loosen funds and provide assistance to homes and businesses.

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Source: sena

All business articles on 2022-05-24

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