Food inflation driving UK, US consumers to hoard for Christmas

London

GLOBAL food inflation is beginning to bite, so much so that consumers in the United Kingdom, the United States and elsewhere - fearful of shortages and future price hikes - have been snapping up everything from frozen turkeys to nuts and sweets several weeks before Christmas.

Key agricultural commodity prices are well above the levels seen at the end of 2019, just shortly before the start of the global Covid-19 pandemic.

Arabica coffee, which accounts for 60 per cent of the world's coffee production, has seen its price surge by as much as 77 per cent as Brazil, the m…

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL