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Food inflation is here to stay
Money & financeFood industry (general)United Kingdom
The former CEO of supermarket chain Sainsbury’s has warned of double-digit food inflation in the UK that will last for a year or more.
“The impacts of energy price rises, and the very significant impact on availability of core commodities such as oil and wheat, and so on … they haven’t found their way through the food price system yet,” Justin King told LBC Radio (as reported by Retail Week). “They are working their way through to prices and will be very significant.”
Why it matters
When the prices of essentials are rising at the same time as incomes are shrinking in real terms, consumers inevitably have less to spend on luxuries, however defined. Last week, for example, it was reported that Britons cancelled over 1 million music subscriptions in the first quarter as the worsening cost-of-living crisis forced them to make savings. We can expect more such responses in the coming months.
Food inflation rose to 4.3% in May from 3.5% in April and is one of the main drivers of the general consumer prices index (CPI) measure which stood at 9% in April.
An IGD report last week suggested grocery inflation could hit 15% in the summer.
多样性、公平性和包容性需要发挥作用。在客户和机构层面，这一领域仍然存在挑战，机构继续缺乏内部多样性，而客户则在努力实现 DEI 议程。
来自伟门汤普森中国的 Joyce Ling、Leo Burnett Chicago 的 Aki Spicer、MediaCom 的 Anush Prabhu、We Are Social 的 James Honda-Pinder、22feet Tribal Worldwide 的 Mehak Jaini、The Secret Little Agency 的 Eunice Tan 等领先战略家的专家评论和 OLIVER Agency 的 Nick Myers，可以在这里阅读。