Shoppers face ‘great reset’ with food prices soaring by 10 per cent as poultry boss says days when family can buy whole chicken for £3 are ‘coming to an end’
- The founder of 2 Sisters Food Group has warned of increasing food prices
- Ranjit Boparan warned consumers could soon be hit with a ‘great food reset’
- Poultry boss said that shoppers were ‘looking at a different world from now on’
Shoppers across the country could see food prices rise by 10 per cent as manufacturers grapple with soaring energy costs and a shortage of HGV drivers.
Founder of 2 Sisters Food Group, Ranjit Boparan, warned consumers could soon be hit with a ‘great food reset’ and said the days when a family could buy a whole chicken for £3 were ‘coming to an end’.
The poultry boss went on to say that the surge in gas prices, rising inflation and labour issues meant that shoppers were ‘looking at a different world from now on’ and rising food costs were now ‘inevitable’.
His comments come after a survey by the British Chambers of Commerce found nearly two-thirds of UK manufacturers plan to raise their prices in the run-up to Christmas due to rising inflation.
Founder of 2 Sisters Food Group, Ranjit Boparan, said the days when a family could buy a whole chicken for £3 were ‘coming to an end’
Mr Boparan told The Telegraph: ‘In relative terms, a chicken today is cheaper to buy than it was 20 years ago.
‘How can it be right that a whole chicken costs less than a pint of beer?
‘You’re looking at a different world from now on where the shopper pays more.’
The businessman went on to claim that his company’s 600 firms and 16 factories had already seen power bills surge by 550 per cent.
Mr Boparan has now urged companies to work with supply chains and customers to ‘solve these issues’.
Last week a survey by the British Chambers of Commerce found 62 per cent of industrial firms expect to increase their prices over the next three months – the highest result since data gathering began at the end of the 1980s and far over the previous record of 38 per cent in 2008.
The results suggest families are set for a Christmas crisis of rising costs as they prepare for what is already the most expensive time of the year.
A raft of major companies have warned of inflationary pressures due to labour shortages, rising energy costs and gaps in global supply chains, including Greggs, Hotel Chocolat, and consumer goods giants Unilever and Reckitt.
The poultry boss said his company’s 600 firms and 16 factories had already seen power bills surge. (Stock image)
‘Acute supply shortages and rising raw material costs drove an historic surge in inflationary pressures in the third quarter,’ said Suren Thiru, the BCC’s head of economics.
Greggs published its results last week and warned that despite encouraging sales figures it was facing higher costs due to shortages of staff and food ingredients.
Hotel Chocolat – which has more than a hundred shops in the UK – said prices for customers would rise up to nine per cent over most of its range due to more expensive ingredients, labour and transport.
But while many Britons fear a financial hit, Prime Minister Boris Johnson insisted that he was not worried about rising prices because he believed they will be temporary, and insisted it was ‘not his job’ to fix every aspect of supply chains in the UK.
Asked about the situation during the Conservative Party conference, he told the BBC: ‘Actually I think that people have been worried about inflation for a long time and it hasn’t materialised.’
When pressed on the UK’s HGV driver shortage he attempted to deflect attention back to the private sector, saying ‘it’s not the job of government to come in and try and fix every problem in business and industry’.