Extreme weather to hit prices

British consumers are facing a hike in food prices of at least 5% as a result of extreme weather this year, economists warn.

Extended spells of frigid and baking weather during the winter and summer will likely increase household food bills by an estimated £7.15 a month, the Centre for Economics and Business Research (Cebr) says.

The cold snap brought on by the beast from the east has already been blamed for a slump in the economy at the start of the year, while some industries were adversely affected by heatwave conditions over the summer.

The Cebr said domestic food production has been hit by weather extremes that have put “particular stress on farming costs and yields”.

Between March and July, the wholesale “farm gate” prices of some staples rocketed by up to 80%.

The price of wheat for bread rose by a fifth, strawberries by 28%, carrots by 41% and lettuce by 61%.

The farm gate price of carrots rose by 80%, according to European Commission figures used by the economists.

The Cebr said: “Summer 2018 has been one of the warmest in living memory, with above average temperatures recorded since April and dry spells lasting more than 50 days in parts of the country.

“While this has made Britain’s weather more conducive to barbecuing, it looks set to raise the price of the food on the grill and the drink in hand.”