FOOD INFLATION OUTLOOK
Retail food inflation – rate at or close to low point
EFFP’s latest forecast of Retail Food Prices shows that retail food inflation has fallen significantly since October and we forecast that the rate is now, at or close to its low point and will rise slightly over the next twelve months.
This forecast assumes a respite from extreme weather conditions both here and abroad and also that the political uncertainty in the Black Sea region will not deteriorate.
The broader influences on retail food prices – general inflation and particularly oil prices and the exchange rate – are all expected to remain relatively benign reinforcing our forecast that food inflation will remain around 2pc over the coming year.
EFFP’s Retail Food Price Forecast graph can be downloaded below.
The full Food Inflation Outlook article is available in the latest issue of VIEW, EFFP’s journal. If you wish to receive a copy please email EFFP.Download the full article here