Many foodstuffs including butter, flour, ready-made meals and lamb have seen double-digit inflationary rises in June, according to the latest update from the Food and Drink Federation (FDF).
For the eleventh month in a row, food and drink inflation rose again in June with prices increasing by 9.8% compared to a year ago and up from 8.7% in May. According to the FDF, this is the highest increase since March 2009.
In comparison, overall, UK inflation rose to 9.4% in June, up from 9.1% in May, with fuel and food pushing up prices the most.
Foodstuffs that saw double-digit rises in June:
- low-fat milk (26.3%)
- butter (21.5%)
- flour (19.3%)
- ready-made meals (16.7%)
- lamb (14.9%)
- fish (14.2%)
- coffee (13.2%)
According to FDF, food ingredients produced in the UK were 14.3% more expensive in June on the year (up from 10.5% in May) and imported ingredients saw prices higher by 23.2% (up from 21.4% in May). Goods leaving the food and drink manufacturers’ facilities saw inflation soar to 12.2% (up from 10.5% in May).
As it takes up to a year for rises in producer costs to filter through to prices on the shelves, FDF forecast that food inflation will continue well into 2023.
Additionally, the global UN food index dropped by 2.3% in June from May, however it remains 9.3% above its February 2022 level and 47.3% above its October 2020 level.
