Food prices could jump 5% thanks to extreme weather

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Food prices in the UK could jump as much as five per cent thanks to the extreme weather conditions seen this year.

According to economists at the Centre for Economics and Business (CEBR) domestic food production has been hit by the extended spells of both freezing and boiling weather this year, placing “particular stress on farming costs and yields”.

This is expected to increase costs to UK consumers by £45 million per week, equating to a rise in average household food bills of around £7.15 a month, though the effects could take up to 18 months to be felt.

“Summer 2018 has been one of the warmest in living memory, with above average temperatures recorded since April and dry spells lasting more than 50 days in parts of the country,” the CEBR said.

“While this has made Britain’s weather more conducive to barbecuing, it looks set to raise the price of the food on the grill and the drink in hand.”

These effects were demonstrated earlier this year between March and July while the UK was hit by the “Beast from the East”.

Prices of essential crops like wheat skyrocketed in what was dubbed “farm gate”. Carrots jumped 80 per cent, lettuce by 61 per cent, wheat for 20 per cent and strawberries by 28 per cent.

The poor grass growth during “farm gate” also saw the price of butter rise by just under a quarter, while the recent heat has seen the price of piglets jump eight per cent as pig fertility falls.

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