Food prices – Dec 2020 to Jan 2021
Although the agreement of a trade deal between the UK and the EU on Christmas Eve assuaged fears of new tariffs leading to a hike in UK food prices, globally the impact of Covid-19 on supply chains is impacting on food prices leading to growing concerns around increasing food insecurity. World food prices reached a six-year high in November, with the FAO reporting a 6.5% increase in its food index in the 12 months to November. This was the largest monthly increase since July 2012. Cereal prices were almost 20% up on a year ago, owing to a combination of poor harvests and stockpiling attributed to the pandemic.
View our UK Food Tracker in full.