Grocery bills set to rise for consumers

Consumers will pay more for their weekly groceries next year, as food price rises are set to replace increases in mortgage interest rates as one of the key drivers of inflation, according to leading economists.

18th August, 2007

Consumers will pay more for their weekly groceries next year, as food price rises are set to replace increases in mortgage interest rates as one of the key drivers of inflation, according to leading economists.

‘‘One big contributor to inflation over the next year will be food prices,” said Jim Power, chief economist at Friends First.

‘‘In the US, a lot of land was taken out of wheat production and diverted into...

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