You might not realise it, but food prices have been rising for some time. Issues such as poor wheat harvests and increasing costs for farm machinery have quietly pushed prices up behind the scenes. The UN Food and Agriculture Organisation estimates a year-on-year rise of 30%. Most of those costs were absorbed by the manufacturing and distributions industries, so did not filter through to consumers – until now.
There is a perfect storm of problems – supply chain disruptions, energy prices, inflation and so on. Combined with existing food commodity cost increases, it is beginning to have a substantial impact on prices on supermarket shelves. Food prices are about to boom, and they will be a key component of the crushing cost-of-living crisis to come this year.
And yet, incredibly, the government remains wrapped up in its anti-obesity nanny-state fantasy. It is choosing now, of all times, to dive-bomb into an enormous expansion of the state, ushering in reams of fresh red tape to make life more difficult for businesses and add extra unnecessary costs to struggling households’ monthly outgoings.