Food and Drink Federation comment on UK inflation figures

The Food and Drink Federation (FDF) has expressed cautious optimism following the announcement of the latest UK inflation figures on August 14, 2024.

Balwinder Dhoot, Director for Sustainability and Growth, The Food and Drink Federation said: “We’re pleased that as pressures across the food supply chain ease, food and drink price inflation continues to stabilise.

“While energy and global commodity prices remain elevated due to a series of shocks, including the war in Ukraine and ongoing geopolitical uncertainty, there are strong signs that the industry is turning a corner.

“Around 85 per cent of food manufacturers expect to maintain or increase investment levels over the coming year, after a 30 per cent decline since 2019.

“Our industry plays a vital role in every community, and the local and national economy. As well as providing job opportunities and skills development it underpins the nation’s food security.

“Continued investment is key to safeguard and enhance the resilience of our food supply, tackle climate change and health inequalities, and boost jobs and growth.”

The FDF’s response emphasises the critical role the food and drink industry plays in the UK’s economy and society.

Dhoot stressed the importance of continued investment to enhance food supply resilience, address climate change and health inequalities, and stimulate job creation and economic growth.