Why is food inflation so high and when will it stop?
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 10 February 2023
⏱️ 61 minutes
🧾️ Download transcript
Summary
Even as energy prices and other recent highly inflationary items slow a bit, the cost of food seems to show no let up - with reports reporting inflation-busting rises.
What is going on here? How much have food prices risen, why have they gone up so much, are supermarkets or brand-name makers profiteering, and will costs ever come back down?
Georgie Frost, Angharad Carrick and Simon Lambert, delve into food prices on this week's podcast - and look at ways you could save money.
Plus, mortgage rates are falling while the base rate is going up: why is that and what happens next?
Should you invest in a VCT, not just for the juicy tax breaks but also for the investment opportunities on offer?
And finally, we met the founders of Seatfrog to find out how they are helping passengers buy up unused first seats on trains at bargain prices and their plans for making train ticket-buying better.
Transcript
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| 0:00.0 | Welcome to This Is Money Podcast. I'm Georgie Frost and joining me and editor Simon Lambert today is investing and small business reporter and pod newbie and Howard Carrick. |
| 0:12.4 | And coming up, petrol prices down, energy looks set to go the same way, inflation is expected to significantly reduce over the year and the latest GDP figure show we aren't in recession. |
| 0:22.6 | So when on earth will the cost of our weekly shop follow suit? |
| 0:26.4 | The mortgage price wall, how low will they go? |
| 0:29.0 | But whoa, Tiger, says Simon, probably. |
| 0:31.4 | Before we get too carried away, borrowers aren't out of the woods yet on the rate rise pain. |
| 0:36.5 | Also today, should you invest in the |
| 0:37.9 | BCT, what's the point of brick coin, and some much-needed innovation in train ticketing? |
| 0:44.0 | Don't forget you to update with all the latest breaking money news, just go to this ismoney.co.com |
| 0:48.2 | or download the app. Don't forget, you can stay on top of what's going on in the markets |
| 0:53.3 | by tuning in to the Digest and Invest podcast by E Itara. Go to your regular podcast platform and listen on the go. |
| 0:59.0 | Digest and Invest by Itora, the podcast for those interested in trading and investing. |
| 1:03.2 | But first, the price of everything has rocketed since the start of last year. You don't need |
| 1:08.9 | me to tell you that. But CPI peaked at 11.1% in October, |
| 1:13.1 | well above the Bank of England's 2% target. But the good news is it's expected to fall rather |
| 1:18.4 | quickly this year. But what we pay at the supermarket has stayed and is expected to stay |
| 1:24.2 | stubbornly high. So figures from Cantar this week show that households face an |
| 1:28.5 | additional almost 800 quid hit to their annual grocery bill this year. And worryingly, it's on |
| 1:33.9 | everyday products such as milk and eggs that we're seeing some of the steepest increases. So, |
| 1:38.5 | Anne, welcome to the pod. Best time, me. Thanks for having me. Thank you. Most welcome. Cost of food. Why is it so high? |
| 1:48.8 | So food prices actually started rising just after the pandemic. We had a lot of supply chain issues, |
| 1:55.2 | which meant it was harder to source the food, therefore making prices higher. Obviously, |
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