Another wave of inflation in food prices is on track to hit consumers over the coming months, a grocery market expert has warned, in the wake of figures from consultancy firm Kantar showing a more than 13 per cent increase in average food prices over the past year.
The Business Post quotes Malachy O’Connor, a partner at European grocery industry consulting firm IPLC, who is forecasting that consumer food businesses will pass on recent rises in their input costs as a result of the strengthening dollar.
“I think we’re going to start seeing the shift in currency being passed on to retailers over the coming months. It won’t impact the price of all food products in the same way energy inflation has, but it will be significant.”
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