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FOOD AND DRINK FEDERATION RESPOND TO FOOD PRICE INFLATION

Food and Drink Federation respond to food price inflation. Food and drink inflation is up to 4.9% in October ahead of the crucial Christmas period.

Karen Betts, Chief Executive, The Food and Drink Federation (FDF) said:

“It’s very concerning to see food price inflation continue to rise, particularly as we approach Christmas. Food and drink manufacturers are paying nearly 40% more for ingredients and energy than they were in January 2020, as well as bearing a range of newer regulatory costs, like new packaging taxes and increases to employer national insurance. Hard-pressed food and drink companies are finding they simply have no choice but to increase prices.

“As the Budget approaches, food manufacturers are nervous, with nine in ten worried about the impact of additional costs and taxes on food prices. We want instead to see government step up and support our sector, by protecting businesses from unwelcome tax surprises and partnering with us to drive growth and build resilience, to help prevent future price rises for shoppers.”

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