THE RETAIL BULLETIN - The home of retail news
Lest we forget
Click here
Home Page
News Categories
Commentary
CX
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Uncategorized
Retail Events
People in Retail Awards 2024
THE Retail Conference
Retail Ecom North
Retail HR North 2025
Retail Omnichannel Futures 2025
Retail HR Central 2025
The Future of The High Street 2025
Retail Ecom Central
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
UK food price inflation could hit 10% this year, Marks & Spencer chairman says

Food prices could soar by as much as 10% this year, the chairman of Marks & Spencer (M&S) has warned. “It wouldn’t be surprising to see… View Article

FOOD AND DRINK NEWS UK

UK food price inflation could hit 10% this year, Marks & Spencer chairman says

Food prices could soar by as much as 10% this year, the chairman of Marks & Spencer (M&S) has warned.

“It wouldn’t be surprising to see food price inflation over the course of the year running towards 8-10%,” Archie Norman, former Tory MP told BBC radio.

“But we don’t know that yet because it runs through the year, some has gone through now but quite a lot’s still to come,” he said.

British grocery inflation hit 5.9% in April, its highest level since December 2011, according to market researcher Kantar.

On Monday, Bank of England Governor Andrew Bailey said rising food prices, which have been pushed up by the conflict in Ukraine, were a major worry, not just for Britain but for developing economies too.

Asked if food price rises would be “apocalyptic”, he said: “Um, I think, you have to keep it in context.” He said wages were rising well and added he wouldn’t describe it as apocalyptic.

Britain’s consumer price inflation rate hit 7.0% in March and economists polled by Reuters expect it will leap to 9.1%, its highest since 1982, when April’s data is published on Wednesday.

Subscribe For Retail News