Taking this into account, energy bills will be £900 more expensive by summer than in 2019-20 on average, while the cost of food will be £1,000 more expensive. It is "far from clear" that politicians have recognised the scale of the problem, the Foundation continued.įood makes up approximately 13% of household consumption, compared with energy at 5%, according to its report. "By this summer, food costs will have overtaken energy bills in the scale of the shock they are administering to family finances," it said. The cost of supermarket shops "could easily continue to rise this summer" despite food hitting 19% inflation already in March, the Resolution Foundation said.Īt the same time, energy's "role in this crisis may have peaked" as prices are expected to come down from July, according to the think tank. Food prices will soon overtake energy as the main driver behind UK inflation, a report suggests.
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