Climate change and energy crisis see food bills soar by £605
A typical British household has seen its annual food bill increase by around £605 over the past two years, new research has shown.
The report for the Energy and Climate Intelligence Unit put rising prices down to climate change and the energy crisis.
In 2021, an average monthly food shop cost £270. This means climate and energy costs have added ten weekly shops worth of food bills to the average household's annual spend over the past two years.
Food prices still near record high
Inflation for food items remains at 10%, with prices still near record highs, as recent storms have hit UK vegetable and potato harvests ahead of the festive season.
Climate costs increasing
Although energy prices have come down in 2023, climate costs have gone up compared to last year. This means climate change now accounts for a third of total food price inflation.
Experts warn that El Nino on top of climate change in 2024 could result in further rises in food prices.
Cutting risks to food security
Commenting on the report, COP26 President Alok Sharma said:
“The negative impacts of a changing world climate are here and now and are putting real upwards pressure on the cost of living… It is therefore imperative that the UK continues to show leadership in its efforts to tackle the climate crisis so that we bring other nations with us and help cut the risks to our food security.”
A qualified journalist for over 15 years with a background in financial services. Rebecca is Money Wellness’s consumer champion, helping you improve your financial wellbeing by providing information on everything from income maximisation to budgeting and saving tips.
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