LONDON (Reuters) – Britain’s 20-year binge on cheap food is coming to an end as food price inflation could hit double digits due to a wave of soaring costs throughout the supply chain, Britain’s biggest chicken producer said.
Ranjit Boparan is the “Chicken King” of the 2 Sisters Group and was quoted in The Times saying that “food is too costly.”
In relative terms, chickens today are cheaper to purchase than they were 20 years ago. It is possible that whole chickens cost less than one pint of beer. You’re looking at a different world from now on where the shopper pays more.”
According to him, inflationary pressures in the supply chain led to higher prices.
Official consumer price data showed that food prices increased by 0.2% annually in August. This breaks a nine-month streak of declining values.
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