Food price hikes will become baked in if we can’t choose a fiscal policy and stick with it
FDF Chief Executive Karen Betts writes in City-am about the actions government need to take to tackle record inflation
'The government must act now to reduce inflation'
19 October 2022
The cost of food and drink has increased at its sharpest rate since 1980, with surges in the prices of many key items in the average household’s shopping basket.
Topics
- Inflation
The FDF’s Chief Executive Karen Betts said:
"Today marks a grim milestone with food and drink price inflation hitting 14.6% in September, a level not seen since the 1980s. Food and drink manufacturers continue to do everything they can to keep product prices down but huge rises in ingredient, raw material, energy and other costs mean they have no choice but to pass some price rises on.
"Recent economic turbulence in the UK has made a difficult operating environment for businesses in our sector worse. Companies urgently need a stable economic outlook and a coherent policy framework to enable them to make investment and other critical decisions that are central to their businesses and to the prosperity of their local communities."
Chief Executive Karen Betts explains what government needs to do to tackle the soaring costs.
