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Highlights
- Food price inflation in Britain touched a record-high of 13.3% in December.
- BRC warned that December 2022 saw the greatest inflation level in the fresh food group since records began.
- Though the overall shop price inflation continued to be at a record-high level in December, it went slightly down from 7.4% in November to 7.3% in December.
Food price inflation in Britain touched a record-high of 13.3% in December. This came with the spiralling prices of basic items like pasta and tinned food. As per the recent BRC-NielsenIQ shop price index, UK shoppers witnessed a rise in food prices, which surged from 12.4% in the 12 months to November to 13.3% in the year to December.
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The British Retail Consortium warned that December 2022 saw the greatest inflation level in the fresh food group since records began. With the fresh food category leading the rise in prices, the inflation rate went up from 14.3% in November to a record-high 15%. The price of shelf-stable food, like pasta and tinned food, soared by 11% in December compared with the same month in the year before.
Though the overall shop price inflation continued to be at a record-high level in December, it went slightly down from 7.4% in November to 7.3% in December. BRC’s CEO Helen Dickinson said that this Christmas was very harsh for several households across the nation, with prices of essentials like food and energy hitting the roof.
Amidst this, Kalkine Media® explores three food-related stocks investors can keep an eye on in January.
Anglo Eastern Plantations plc (LON: AEP)
The annual return given by Anglo Eastern Plantations plc, which is a palm oil and rubber producing company, stood at 10.24% as the market opened on Thursday. At around 8:00 AM (GMT), AEP shares were trading at GBX 800.00. Meanwhile, its EPS (earning per share) stood at 1.72, and it had a market capitalisation of £317.09 million.
Tate & Lyle plc (LON: TATE)
The annual and YTD returns given by Tate & Lyle plc, a firm focused on food items and beverages, stood at -6.78% and 2.76%, respectively, as the market opened on Thursday. At around 8:00 AM (GMT), TATE shares witnessed a drop of 0.92%, trading at GBX 729.00. Meanwhile, the FTSE250 company’s EPS stood at 0.51, and it had a market capitalisation of £2,955.04 million, along with a turnover (on book) of £43,929.50.
Premier Foods plc (LON: PFD)
The annual and YTD returns given by Premier Foods plc, a leading British business manufacturing and supplying food, stood at -4.86% and -0.22%, respectively, as the market opened on Thursday. At around 8:00 AM (GMT), PFD shares were trading at GBX 110.00. Meanwhile, the FTSE250 company’s EPS stood at 0.09, and it had a market capitalisation of £949.75 million.
