Food prices are set to surge and propel inflation even higher according to economic analysis in the UK. Due to input costs farmers are feeling the strain , with energy inputs in some cases doubling or tripling.
Food prices are expected to push higher, by up to 20 per cent at the start of next year according to investment bank Citi. Farmers may get record prices, but are facing record costs before then.
Inflation in the UK has officially hit 9.4 per cent according to the Office of National Statistics (ONS) this month, with prices rising at their fastest rate in 40 years.
