Asda boss Lord Rose warns food prices will rise even HIGHER and stay high ‘for quite some time’

Families face  food prices that rise even higher than they are now and stay high for some time, the boss of Asda warned today.

Tory peer Lord Rose said that rocketing raw material costs were going to hit a new permanent high level, which would have a knock-on effect in the aisles.

Sunflower oil, wheat and oil prices have been affected by the war in Ukraine, while gas prices were already going skywards before the conflict began in February. 

This week it was revealed the price of groceries in Britain is now increasing at its fastest rate in 11 years, adding an extra £271 to the amount average households will pay at the till this year.

Data from market researcher Kantar showed that overall grocery price inflation hit 5.9 per cent this month in what is the fastest rise since December 2011 as the number of items on promotion at supermarkets decreased.

Prices are rising fastest in products such as dog and cat food, fresh lamb and beef, savoury snacks and crisps but they are falling in…

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Written by Bourbiza Mohamed

A technology enthusiast and a passionate writer in the field of information technology, cyber security, and blockchain

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