30 August 2018

Extreme weather could force food prices up 5% in UK, report says

EXTREME WEATHER CONDITIONS MAY INCREASE FOOD BILLS BY 5%, reports the Guardian and the BBC.  The increase, which equates to about £7.15 per household per month, may take up to 18 months to filter through to consumers due to a lag in the effects on farming.  Wholesale prices of some vegetables have already soared by up to 80% since the start of the year.  The UK saw record temperatures in June, July and August which caused widespread drought and crop failures.  This, along with a “wet, cold and challenging” winter, including the Beast from the East, has put stress on farming costs and yields.  Some farmers have reported that yields are half of normal, with many looking at £60,000 of added costs.