Families face grocery bill increase of '£100 a week' by 2030, warns financial experts
The average British household could see their grocery bills skyrocket to over an additional £100 each week by 2030, according to new research.
Research by financial institution Admiral Markets suggests that the average weekly spend will increase by £7.61 by the end of 2022 - leading to an average bill of £76.81. It comes amid concerns that food-price inflation is rising out of control after reaching its highest recorded rate in September, Hull Live reports.
“Several factors are conspiring to drive inflation higher,” Admiral Market analyst, Roberto Rivero said. “The rising cost of energy is the most important but this has been re-enforced by Covid-related supply-chain issued, labour shortages and the limited amount of food exported by Ukraine and Russia this year compared to normal times. This improbable combination of negative factors explains the rapid jump in the rate of inflation.
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