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Food price inflation to contin...

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Food price inflation to continue

RedFM Sport
RedFM Sport

07:53 15 Jul 2022


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Food prices will continue to face upward pressure, according to an economist.

Inflation figures published yesterday showed food price inflation at 6.8%.

Overall the inflation rate hit a 38 year high at 9.1%.

Economist Jim Power says there are a number of factors driving up the price of food.

"Everything we see is pointing n an upward direction.

"If you look at the input costs for agriculture production for example, energy and fertiliser costs, labour costs are increasing dramatically.

"The cost of producing food is going up and that's a huge problem as it's feeding up the supply chain."


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