Does Food Prices Affect Inflation?


The average person in the UK has to be concerned about inflation as it affects the amount of money they have to spend and what they can spend. When an industry like the food industry has to raise food prices like it did in the UK in 2017, then, of course, there is cause for concern.

The good news that came out of this is that the inflation was not affected as a result of the food price increases because it was offset with something else which this type was the lower cost of fuel.

Price increases in food can not only affect inflation but it can affect the way the average family shops for their food. It takes the implementation of careful shopping practices which takes more time. It can also mean eliminating some foods from the grocery list simply because the prices are too high. This either causes people to cut back on the amount of food they are going to purchase or look for alternatives to their favourite foods that are now too expensive.

This combined with the concerns of inflation creates a stressful situation for the average working family.