All ten of the Index’s food and drink categories recorded both year-on-year and quarter-on-quarter inflation in the month. The Oils & Fats (+3.7%), Dairy and Fruit categories are seeing the highest rates of year-on-year increases.
The report from CGA and Prestige highlights the key factors driving inflation, including Russia’s invasion of Ukraine and the mounting costs of energy and supply. War in Ukraine has severely disrupted the supply of food staples including grains and oils, and pushed up the costs of production and distribution via higher crude oil prices and restricted gas supply.
Download the latest FPI Snapshot report.