Action needs to be taken to curb the ‘terrifying’ rate of food inflation in the UK, Food and Drink Federation (FDF) chief executive Ian Wright has warned.
Food and drink manufacturers reported the sharpest month-on-month price increases, as input cost inflation neared record highs, according to the latest Lloyds Bank UK Recovery Tracker.
Kraft Heinz chief executive Miguel Patricio has warned people to get used to higher food prices, as rising production costs continue to put pressure on producers.
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.
Manufacturers faced mixed news last month with the release of government statistics showing food deflation in July at “one of the lowest values ever recorded”.
Bakkavor’s strategy of focusing on the UK, US and Asia is “working well”, according to the firm’s first-quarter results for the 13 weeks to March 28, which revealed revenue up by 4% at £425.5M.
Bakkavor has boosted its UK market share for the third consecutive year, despite battling rising input costs, according to results for its fourth financial quarter (Q4).
Premier Foods saw branded value sales fall in its third financial quarter (Q3) as the maker of Mr Kipling cakes and Ambrosia desserts was stung by supermarkets losing share to discounters.
Sainsbury’s third consecutive quarter of falling like-for-like sales represents a watershed, not just for the beleaguered retailer but the whole fast-moving UK grocery sector, agreed most City and retail analysts. Here, we capture their verdict, at a...
Discount retailers Aldi and Lidl are continuing to win sales and have seen their market share hit new records, at the expense of Tesco and Morrisons, according to the latest grocery share figures from Kantar Worldpanel.
Food price increases could throttle back in the next year amid expectations of a strong global harvest, analyst Darren Shirley at Shore Capital has predicted.
Cake maker Finsbury Food Group has reported relatively flat sales for the half year to December 29, up marginally to £103.3M compared with £102M for the same period of the previous year and in-line with management expectations.
Unseasonable weather is the biggest threat to the UK’s trend of falling food inflation, according to forecasts from European Food and Farming Partnerships (EFFP).
News that food price inflation had slowed in October gave hard-pressed shoppers some respite. Whether this will lead to greater stability in the roller coaster rise of volatile input costs for manufacturers is another matter.
Downward pressure on the economy is likely to keep a lid on UK retail food price inflation, which will peak in the first few months of this year at around 6-7%, and then decline slowly, according to European Food and Farming Partnerships (EFFP).
Union leaders failed to agree a pay deal for staff at Adams Foods' cheese packing plant in Leek on Monday, but remain hopeful of agreeing a package with management that will avert the need for strike action.
Food manufacturers will be under pressure to absorb higher raw material and energy costs this year to ensure their products remain affordable as household budgets are squeezed, English Food and Farming Partnerships (EFFP) has warned.
Brewers face being crippled by soaring input costs, Coors Brewers warned as it took the drastic step of announcing a 3p per pint increase across on-...
