10/15/2021- 7:50 a.m.
Economic Perfect Storm: Food Price Inflation Could Hit Double Digits (Report)
Britain’s biggest chicken producer said that the country’s 20-year cheap food binge is ending, and food price inflation could hit double digits.
Shortages of warehouse workers, truckers and butchers as well as COVID and Brexit, exacerbating strainsĀ in the UK. (Reuters)
“Food is too cheap,” Ranjit Boparan, who is known as the “Chicken King” and owns the 2 Sisters Group, was quoted as saying by The Times newspaper.
With central bankers on high alert and inflation in Spain, Ireland and Sweden hitting 13-year highs, European Central Bank President Christine Lagarde repeated that the upswing in Europe is seen as temporary and said there were no signs of it becoming embedded in wages.
