Context
Food prices are rising, affecting household finances.
Question
What recent assessment has the Department made of the impact of food price rises on household budgets? Food price inflation is at 4.4% in January and events in Ukraine have an effect on energy costs impacting further.
Answer from George Eustice
International commodity prices are heavily influenced by factors such as energy costs and exchange rates. Recent pressures have been sustained and we have seen food price inflation rise to 4.4% in January, up from 4.2% in December. Events in Ukraine and the effect of that on energy prices are likely to have further impacts.
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