London by Thanasis Gavou

Small drop of individual food inflation in United Kingdom said the British Retail Consortium (BRC) for June, based on first aggregate data.

Specifically, the prices of fresh food have increased this month by 15.7% compared to last June, while the corresponding figure for May was 17.2%.

As noted, despite this reduction, growth rate of food prices remains one of the highest recorded in the last five decades.

Overall, prices in retail stores in June ran at an increasing rate 8.4% compared to 9% in May.

Prices fell mainly in milk, cheese and eggs, in terms of food, while among other products prices fell mainly in clothing and electrical appliances.

Nevertheless, in basic and favorite food items for the British, prices remain highly elevated. Indicatively, compared to June 2022, white beans in tomato sauce which are a constant choice for the British breakfast cost 22% more, mayonnaise 20%, eggs and sugar 19%, cheese 17%, sunflower oil and olive oil 16%, milk 14%, bread and tomatoes 13%, chicken, salmon, butter, onions and ground beef 11%.

The new figures come as the heads of the UK’s four biggest supermarket chains (Tesco, Sainsbury’s, Asda, Morrisons) appear before the House of Commons Business and Trade Committee later in the day to explain the high prices.

It is noted that even after reducing the individual food inflation is almost twice the price of the overall inflation in the country, which remained stable for May at 8.7%.

Particular emphasis will be given by the MPs who make up the Commission to profit margin with which supermarkets operate, competitive conditions in the supply chain and the question of when consumers can expect to see a significant reduction in prices.

The effects of the protracted punctuality crisis, beyond the obvious on the disposable income of Britain’s residents, are revealed in a report today by consumer rights group Which? and concern the burden on the mental health of consumers, especially those with young children.

In total one in four consumers state that the accuracy affects their mental healthwith anxiety, intense worry and insecurity.

23% of the respondents answered that the increased prices do not allow them to follow a healthy diet. 22% say they have lost sleep because of food accuracy and one in five have seen their physical condition deteriorate.

30% of women report worsening mental health, as do 33% of respondents aged 35-54, who are more likely to have young children. The corresponding percentage in the 18-35 age group is 27% and in the 55 and over group it is 18%.

The head of food policy at Which? Sue Davies commented that women and new parents are most affected by high food prices.

“They are struggling to make ends meet and wondering how much longer they can last. Now is the time for action. The government must urgently push supermarkets to commit to having sufficient stocks of essential financial products in all their stores, especially in areas where consumers are most in need. Also make product pricing clearer so consumers can compare prices and find the best value products,” Ms Davies added.