Expensive bites for millions of Brits as food inflation soars to record 11.6 per cent November 2, 2022 With even basics such as tea bags, milk and sugar seeing significant price rises, food inflation has soared to a record 11.6 per cent in October. Overall shop prices are now 6.6 per cent higher than they were this time last year – also a record – but food inflation jumped well above September’s 10.6 [...]
Olive oil maker Filippo Berio faces price hike of 35 per cent: ‘If we don’t pass it on, we go bust’ November 2, 2022 Consumers could be hit with price hikes of up to 35 per cent on olive oil next year, the managing director of Filippo Berio told CityA.M. Harvests in Spain have been impacted by a dry September, with worst-case scenario predictions that the crop could fall to the lowest level since 2012. In Andalusia, a main [...]
Franco Manca pizzas debut across UK supermarkets November 1, 2022 Franco Manca pizzas will now be available to buy in supermarkets across the UK, allowing Brits to take home and cook their favourites.
More a third of hospitality businesses fear last orders due to cost crunch October 31, 2022 More than a third of pubs and restaurants are facing last orders by early next year due to the pressures of historically high inflation. Pubs have been hit with soaring energy, food and wage costs, as they seek to rebuild after the Covid-19 pandemic. These mounting costs have resulted in 35 per cent of businesses [...]
Asda completes £611m swoop for Co-op’s petrol business October 31, 2022 Asda has completed a £600m deal to buy the Co-op’s petrol business Asda this morning. The deal includes 129 petrol forecourt sites, spread across the UK and represents five per cent of Co-op’s retail estate of 2,564 stores. Co-op said it would use the proceeds to reinvest in the convenience business and reduce net [...]
Blind people amongst those worst affected by cost of living crisis October 28, 2022 The Royal National Institute of the Blind (RNIB) conducted a survey recently, asking 125 blind and visually impaired individuals to explain how the cost of living crisis was affecting them. The cost of living crisis has become a focal point for the government and a point of concern for the public in recent months. Soaring [...]
Nearly 28,000 Brits enter insolvency as economic crunch hits October 28, 2022 Almost 28,000 personal insolvencies were recorded over the past three months as Britons come under pressure from the soaring cost-of-living, according to official figures. The Insolvency Service confirmed on Friday that it has also seen a rise in registrations from people seeking breathing space from debts. The new data showed that 27,927 individual insolvencies were [...]
Government eyes bank surcharge U-turn despite Lloyds profits tumbling October 27, 2022 Britain’s biggest mortgage lender, Lloyds Bank, has set aside hundreds of millions of pounds in preparation for a surge in loan defaults caused by the rising cost of living and higher interest rates squeezing household budgets. The lender today said it had banked £668m over the three months to September to absorb souring loans, primarily [...]
Exclusive: Seven Dials Market boss says ‘Brexit means we are short-staffed for every shift, every day’ October 27, 2022 Brexit has “absolutely screwed” the food industry after it “ripped away” its labour source, according to the boss behind the West End’s popular Seven Dials Market. Businesses at the food and drink destination are facing staff shortages “for every single shift, every single day,” Simon Mitchell, who heads the street food market operator Kerb, exclusively [...]
It’s time to go back to basics and go about fixing our deficit before more tax cuts October 26, 2022 As inflation pushes prices further and further up, food has been getting more expensive for some time. But, as the cliche goes, there was never such a thing as a free lunch.