UK Grocery Price Inflation Reaches Record High as Consumers Face Shortages

todayMarch 1, 2023

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Grocery prices in the UK have risen by 17.1% in the four weeks to February 19, the highest rate of inflation since 2008, according to data from Kantar. The inflation comes as consumers already face a shortage of fruit and vegetables, leading to rationing at major supermarkets. The high prices are hitting consumers hard, with a quarter of UK shoppers saying they are struggling financially, up from a fifth last year. UK supermarkets import 95% of their tomatoes and 90% of their lettuce in December and typically the same proportions in March, leaving them highly exposed to the current shortages caused by poor weather conditions in food exporters Spain and Morocco, as well as Brexit-related issues. While growers’ groups are blaming crippling energy costs for the tight supply, Mark Spencer, the UK food and farming minister, has urged supermarkets to “look again at how they work with [UK] farmers and how they buy fruit and vegetables, to further build preparedness for these unexpected incidents.”

Written by: Relaks Radio

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todayMarch 1, 2023

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