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What rising inflation means for the food industry

Rising inflation is hanging over every household and business in the country. In April 2022, overall inflation hit a 40-year high, with prices rising by around 9 per cent – food being a key contributor.

So how will rising prices affect the food industry?

In this episode of the Table Talk podcast, two experts in the field join host Stefan Gates.

Tim Lloyd is Professor of Economics at Bournemouth University and Fraser McKevitt is Head of Retail and Consumer Insight at Kantar.

They look at how today’s rate of inflation compares to recent – and not so recent – history, the factors that are driving prices up around the world, and they discuss who is likely to be worst-affected.

Will supermarkets keep prices down to protect their market share? Will that lead to even more pressure on suppliers? And what can companies and individuals do to mitigate against the worst effects?

Tim Lloyd, Professor of Economics, Bournemouth University

Tim Lloyd is Professor of Economics in the Business School. He was appointed in July 2015 having previously been Associate Professor in the School of Economics at the University of Nottingham.

Professor Lloyd’s research interests lie in the fields of agricultural and food economics, particularly pricing, diet and health and competition in the food industry. 

Recent work, funded by both the European Commission and the UK’s Department of Environment, Food and Rural Affairs (DEFRA) has focused on the transmission of prices through the food chain and food price inflation in the UK and EU Member States.

Fraser McKevitt, Head of Retail and Consumer Insight, Kantar

In over a decade at Kantar, Fraser has helped advise some of the UK’s biggest FMCG brands and supermarkets. All of this advice has been powered by real observed behaviours from Kantar’s purchase and consumption panels, widely used throughout the grocery industry. 

He keeps a close eye on changing consumer and shopping behaviours, explaining how and why these trends influence and impact both manufacturers and retailers.  He describes, analyses and comments as the grocers battle competitively for market share each month, through the Kantar ‘Grocery Market Share’ release.

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