Food price inflation soars over 19% to highest rate in 45 years

Bread, cereals and fruit prices surged last month, while the impact of vegetable shortages also continued to weigh on inflation
Bread, cereals and fruit prices surged last month, while the impact of vegetable shortages also continued to weigh on inflation

The prices of food surged at the fastest rate in more than 45 years last month, new figures by the Office for National Statistics (ONS) show.

The annual inflation rate in the food and non-alcoholic beverage category was 19.1% in March 2023, up from 18% per year in February.

Food prices alone jumped by 19.6%, with bread and cereal prices surging by 19.4%, the new figures, released on Wednesday (19 April), show.

Meanwhile, meat prices increased by 17.4%, while milk prices soared by 37.9% and eggs by 32%.

Earlier this year, there were reports of shortages of salad produce and other vegetables due to the bad weather in southern Europe and Africa, which continued to weigh on inflation.

The impact of higher electricity prices on produce grown out of season in greenhouses in the UK and northern Europe was also a factor.

The cost of energy, animal feed and tools to grow food today are also at historic highs, with inflation in agriculture remaining at nearly 19%.

NFU President Minette Batters told the union's recent annual conference “the clock is ticking” and that “time is almost up for this government to start walking the talk”.

"It’s ticking for those farmers and growers facing costs of production higher than the returns they get for their produce," she warned.

"It’s ticking for the country, as inflation remains stubbornly high, and the affordability and availability of food come under strain. It’s ticking for our planet, as climate change necessitates urgent, concerted action to reduce emissions and protect our environment.

"And it’s ticking for government – to start putting meaningful, tangible and effective meat on the bones of the commitments it has made."