When will food prices start to fall?

Food inflation is a huge concern across the world.

Over the course of 2022, food prices were on average 14.3% higher than the year before.

In the UK, things are looking a little worse than average.

The Office for National Statistics found that in the 12 months leading up to March 2023, food prices rose 19.2%.

The thing is, the World Bank is reporting that, globally, wholesale prices are starting to fall.

In this episode of the Food Matters Live podcast, we explore the implications of high food prices on consumers, businesses, and the broader food industry.

We discuss when we might see a drop in the cost of food, and ask: “Why are food prices still so high?”

Liliana Danila, Lead Economist, the Food and Drink Federation

Liliana joined the Food and Drink Federation in 2022, initially as Economic Policy Manager.

She took on her current role as Lead Economist in August of that year.

Previously, she has worked as an Economist at the British Retail Consortium, Assistant Professor of Economics at the American University of Sharjah, and Graduate Student Instructor at Clemson University.

Rachelle Earwaker, Senior Economist, Joseph Rowntree Foundation

Rachelle’s research focuses on decent and affordable housing, and fiscal and economic policy. She is a Senior Economist at the Joseph Rowntree Foundation.

Rachelle previously worked as an analyst at the New Zealand Treasury, where she coordinated the budgets, including implementing the first Wellbeing Budget in 2019.

She also worked on housing policy, focusing on social and emergency housing in New Zealand.