Food and Drink Federation almost triples forecast, even allowing for possibility of strait of Hormuz reopening soon
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Food and Drink Federation almost triples forecast, even allowing for possibility of strait of Hormuz reopening soon
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Food inflation could hit 9% in the UK this year, even if the strait of Hormuz opens within the next few weeks, figures suggest, as the war in Iran pushes up energy prices.
The Food and Drink Federation, which represents 12,000 food and drink manufacturers, has predicted that prices will rise by “at least” 9% by the end of 2026, almost tripling a forecast made before the Middle East conflict of 3.2%.
Continue reading...Source: Guardian - World News
