Food prices jump despite drop in wholesale costs
Business / Tue 2nd May 2023 at 07:21am
FOOD prices in the UK continued to soar in April despite a drop in wholesale costs, new figures show reports the BBC.
Food inflation jumped to 15.7% last month compared with April in 2022, up from 15% in March, the British Retail Consortium (BRC) said.
But the cost of a food shop “should start” to come down in the next few months, the trade body claimed.
The BRC, which represents UK supermarkets, said customers would see savings on milk and other dairy goods.
Last week, Sainsbury’s rejected suggestions that prices were too high after the BBC heard that falls in global food prices were not being reflected on supermarket shelves.
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The British Retail Consortium clearly don't take notice of the Office for National Statistics inflation figures. The latest ONS food and non-alcoholic beverage annual inflation for the year to March 2023 is 19.2%. See ONS at: https://www.ons.gov.uk/economy/inflationandpriceindices/articles/costofliving/latestinsights#:~:text=Food%3A%20Prices%20of%20food%20and,the%20year%20to%20February%202023.
The government printed billions for covid, you all cheered along, well done this is the result
"Proof of the pudding....", what are the annual profits of the food companies this year?