Price inflation primarily fuelled seafood sales value growth over Christmas 2017, up 4.4% to £171m compared to the 2016 festive period, according to UK seafood industry body Seafish.
Food inflation in the UK is continuing to spiral, according to several recent reports, with commentators raising concerns about the uncertainty over Brexit, the value of sterling and the continued rise in food prices.
Pay increases in the manufacturing sector – including food and drink firms – are slightly ahead of consumer price inflation, revealed EEF, the manufacturer’s organisation.
Rising food prices can be expected in 2017 – reversing the deflationary trend of recent years – as news emerged from the Office for National Statistics (ONS) that inflation overall in the UK in November had climbed to its highest level in two years.
The cost of manufacturing food and drink products has risen 4.3% over the past 12 months across all sectors, according to latest data from the Office for National Statistics (ONS).
Frozen food manufacturing products are set to rise in popularity, based on consumers’ preference for less waste and higher nutrient value, according to a report from the British Frozen Food Federation (BFFF).
Greencore’s food-to-go strategy is working well, both at home and in the US, claims ceo Patrick Coveney, as the manufacturer posted half-year group revenue up by 7.5% to £691.6M.
Food deflation remains a persistent feature of the UK economy, despite the latest figures from the Office for National Statistics (ONS) showing headline inflation up 0.5% in March.
A potential UK exit from the EU would have an economically damaging impact on the UK food and drink manufacturing sector, the boss of the world’s largest sandwich maker has warned.
The food sector faces considerable uncertainty about what the retail landscape will look like next year, given the monumental changes coming down the line not least the introduction of a National Living Wage (NLW) of £7.20 an hour next April.
