- British households are facing persistently high prices for essential food items, with a new report attributing this trend to ongoing global events such as the Middle East crisis and the El Nino weather pattern.
- Analysis from the Energy and Climate Intelligence Unit shows food prices “shoot up like rockets but drift down like feathers”, meaning consumers face elevated grocery bills long after initial disruptions.
- The think tank's findings, based on over three decades of UK data, indicate that shelf prices recover only 1 per cent of their original increase after six months and just 7 per cent after two years.
- The research shows that only 35 per cent of the initial affordability impact is unwound within two years when adjusted for wages.
- Experts warn that food prices are on track to be 50 per cent higher by November compared to mid-2021 levels, with climate change and energy volatility expected to make shocks more frequent and severe.
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