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Britain’s binge on cheap food is over, biggest chicken producer says By Reuters

© Reuters. FILEPHOTO: A supermarket shelf is devoid of fresh chicken, as coronavirus cases continue to rise, London, Britain. March 15, 2020. REUTERS/Henry Nicholls

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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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.