‘Golden era’ of cheap food is ending, says ex-Sainsbury’s boss



"King warned shoppers would have to start making hard choices on how they spend their money, particularly as soaring inflation – made worse by the ripple effects of the war in Ukraine – pushed up prices on supermarket shelves. The Bank of England said last week headline inflation was likely to exceed 10% this year, the highest since 1982.
“We have been perhaps through a golden era. We spend much less as a proportion on average of our household budgets on food than we had almost any time in history, and that’s been [on] a long, gentle decline. So I suspect what we will see is a higher proportion, across the piece, spent on food for the longer term.
“It won’t actually be that high in historical terms but it will require adjustments in terms of how we all prioritise our family budget spending,” King added."
https://www.theguardian.com/business/2022/may/13/cost-of-living-golden-era-of-cheap-food-over
Replies
So much to read, so little time.
Not sure what all the fuss is about.
FWIW, I think Justin King is right. Prices may drop seasonally, but I'm pretty sure this is a long-term trend. One things is for certain though, and that is it's not going to be the supermarkets taking the hit.
So much to read, so little time.
So much to read, so little time.