EMBARGO: Immediate Release

Food prices soar by 30% in past 2 years

Food prices have soared by 30% in the last two years, the biggest rise on record, according to Liberal Democrat analysis of new official statistics.

The 30% two-year rise in the Office for National Statistics’ index of food prices between July 2021 and last month dwarfs the previous record of 19.3% between February 2007 and February 2009, at the height of the financial crisis.

The average price of a loaf of bread has gone up by 52p (27%) in the last two years, while a pint of milk is up 24p (57%), according to ONS figures.

The Liberal Democrats are calling for urgent government action to protect shoppers from rising prices.

Commenting, Liberal Democrat Leader Ed Davey MP said: 

“Rishi Sunak has failed people on food inflation. This Government should be standing up for struggling families and pensioners hammered by soarihg food prices. 

“Yet this out of touch Government seems happy to stand by as millions struggle just to pay for the weekly shop. 

"Unless there is a clear urgent plan to tackle rising food prices, anything else Rishi Sunak says is just another empty promise. 

“Liberal Democrats want to see the government cracking down on anyone profiteering - from supermarkets to food multinationals - and helping farmers and traders hit by costly red tape, so people get the fair deal they deserve.”

ENDS

Notes to Editor: 

The Office for National Statistics’ CPI detailed index for food is here. It has risen from 102.9 in July 2021 to 133.4 in July 2023. (2015 = 100)

The Liberal Democrats 4 point plan to protect shoppers:

1. Investing an extra billion pounds in British farms: We should be supporting our farmers to boost the UK’s environmentally-friendly and sustainable food supply. Starting by targeting support at shortage areas, we can protect ourselves from import shocks, put more good-quality food on the shelves, and bring down prices for the long term.

2. Cut energy bills for farms and businesses: In April, the Government cut energy support for businesses by 85%, forcing farmers and shops to raise their prices. We’d put that support back in place, cutting costs for producers and retailers. And in the meantime, the Government should ensure that energy-intensive farms qualify for extra support.

3. Let our farmers and fishers recruit the staff they need: The Government’s unfair visa rules have left our farmers and fishers producing less food because they can’t recruit enough workers. Tonnes of fruit and veg has gone to waste as a result. The Government must fix its broken visa system which is holding back our food supply, by scrapping arbitrary salary thresholds. 

4. Free school meals for every child in poverty: Unfair rules put in place by the Conservatives in 2018 have excluded 800,000 children growing up in poverty from Free School Meals – and another 200,000 eligible children are missing out because they’re not registered. The Government must immediately end this injustice by scrapping the arbitrary household income threshold, and automatically enrolling every eligible child.