🛒 Why rising food prices are unavoidable, as supermarkets run out of ways to fight inflation 🔍 Analysis from robhastings
has spoken to experts across the industry and they have the same worrying conclusion: the retailers have little choice but to keep on putting up prices. In this cost-of-living war, it seems the supermarkets are running low on ammunition, and that is affecting us all.
These problems have piled on top of “the weakness of sterling and increased trade costs and friction due to Brexit” – plus serious pre-existing issues in supply chains. “If you add in all the other business difficulties, such as lack of transport, and in particular lack of workers, clearly the system is under some serious pressure,” says Walton.
He points out how the two lines have diverged since 2016, with “input” production costs rising at a much faster rate than “factory gate” prices. This lag indicates many suppliers have absorbed increasing costs for several years, only passing them onto retailers – and therefore onto consumers – months later. Now, says Walton, “the gap between the two is larger than it has ever been.”costs to supermarkets“Suppliers do have options beyond just accepting pressure on margins,” says Walton.
Futter argues British food producers cannot wring more productivity of their supply chains. “When you look at the price of food that we pay in this country, there are only two nations in the world that spend less of their GDP on food than we do: the USA and Singapore. Food in this country is cheap. For a long time, it has been too cheap. That’s not sustainable.
They arm themselves with as much information about products as possible. “They will have a pretty good idea about the input costs their manufacturers are facing in, for example, frozen pizzas… They want to see evidence the manufacturer has done everything they possibly can to offset the price increase.”
Belgique Dernières Nouvelles, Belgique Actualités
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